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Swiss billionaire backs out of offer to buy Tribune Publishing Co. – The Washington Post

Maryland business executive Stewart Bainum Jr. is still interested in making an offer.

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Bainum who is said to still be committed to the deal to buy Tribune and is actively seeking investors to join him informed the special committee of Wysss withdrawal verbally Friday night and confirmed it in writing on Saturday. A spokesman for the special committee of Tribunes board declined to comment.
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Bainum has also completed his due diligence into Tribunes finances and found the numbers more than satisfactory, one of these people familiar with the negotiations…

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