One wrinkle in the Tribune sale:— David Folkenflik (@davidfolkenflik) May 21, 2021
SEC filing says "Patrick Soon-Shiong's vote in favor of the transaction is required, based on his current ownership of the common stock." It also said abstentions would be counted as a vote against the Alden bid - so PSS abstention would doom it
Alden will win Tribune: LAT owner Patrick Soon-Shiong, who holds 24 percent stake in Tribune, says he has abstained from voting as it has been a passive investment.— David Folkenflik (@davidfolkenflik) May 21, 2021
Full statement from Soon-Shiong spokesoman Hillary Manning👇🏼 pic.twitter.com/1D4Ne2BaXl
Story update: Tribune Publishing officials confirmed that proxy ballots registered to Patrick Soon-Shiong, who said he abstained, had been submitted without the “abstain” box being checked, and those votes were tallied as a “yes” vote.https://t.co/njXQj6aDAI— Mary Ellen Podmolik (@mepodmolik) May 21, 2021
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