Tribune’s second largest shareholder wants the company to explore a sale, whether that’s to Gannett or another buyer

You might have heard: Gannett offered $815 million in cash to buy Tribune Publishing, an acquisition that some say is likely to be successful

But did you know: Oaktree Capital Group LLC, Tribune’s second-largest shareholder, wants Tribune Publishing to explore a sale, possibly helping Gannett’s bid to buy Tribune for $815 million. Reuters reports that Oaktree is not in favor of selling for $815 million, but it does want Tribune to talk with Gannett and other potential buyers about an even higher price. Gannett’s $815 million bid is already 60 percent higher than Tribune’s trading value.

+ Gannett is encouraging Tribune shareholders to withhold votes at Tribune’s annual meeting on June 2 as a way to send a “clear signal” that they’re interested in exploring the sale (Wall Street Journal), while Tribune issued a statement on Monday, saying: “Gannett has no path to control for Tribune Publishing and their tactics clearly demonstrate a desperate and opportunistic attempt to steal the company” (CNN Money)