Swiss billionaire Hansjörg Wyss joins bidding for Tribune Publishing

Under that plan, Bainum, a lifelong Marylander, agreed to establish a nonprofit group that would buy the Sun and two other Tribune-owned Maryland newspapers from Alden for $65 million. Soon after that agreement was reached, however, negotiations between Bainum and Alden stalled. That prompted Bainum, chair of Choice Hotels International, one of the world’s largest hotel chains, to make a bid March 16 for all of Tribune, beating Alden’s number with an offer of $18.50 a share.