Swiss billionaire gives up bid for Chicago Tribune
On second thought, cancel the ticker tape parade and key to the city for Hansjörg Wyss.
The Swiss billionaire who burst on the scene last month as the "potential savior" of the Chicago Tribune won't be challenging Alden Global Capital's takeover of Tribune Publishing after all.
Citing three sources, The New York Times was first to report Saturday that Wyss had taken himself out of the bidding after examining Tribune Publishing's finances. For more, go to RobertFeder.com.