Chicago entrepreneur buys a large stake in L.A. Times owner

February 4, 2016 1:41 PM

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Chicago entrepreneur Michael Ferro is investing $44.4 million in Los Angeles Times owner Tribune Publishing Co., making him the company’s largest shareholder and infusing cash that could bolster a planned bid for the Orange County Register.

Ferro, through his firm Merrick Media, bought 5.22 million newly issued shares of Tribune Publishing stock, giving him a 16.6% stake in the company, which also owns the San Diego Union-Tribune, the Chicago Tribune and several other daily newspapers.

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