Alden Global Capital, a private equity firm, agreed to acquire the remaining shares in Tribune Publishing, the publisher of the New York Daily News, at a $630m valuation. "We believe that, as a private company, Tribune would be able to unlock significant strategic and financial value, thereby allowing us to make an offer to acquire all of the common stock of Tribune not already owned by Alden," Alden Global Capital. On April 4, 2021, Stewart Bainum, a Maryland hotel executive, and Hansjorg Wyss, a Swiss billionaire, have made a $680m offer for Tribune. On April 17, 2021, Wyss decides to drop out of the bid for Tribune. On April 19, 2021, Tribune Publishing declared Stewart Bainum's bid unlikely to be superior to Alden Global deal. On April 21, 2021, Tribune shareholders approve Alden Global's $630m privatization deal.