Sec Form 4 Filing - Alden Global Capital LLC @ Tribune Publishing Co - 2021-05-24

FORM 4 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person Alden Global Capital LLC 2. Issuer Name and Ticker or Trading Symbol Tribune Publishing Co [ TPCO] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) X __ Director X __ 10% Owner X __ Officer (give title below) _____ Other (specify below) See Remarks (Last) (First) (Middle) 777 SOUTH FLAGER DRIVE, SUITE 800W 3. Date of Earliest Transaction (MM/DD/YY) 05/24/2021 (Street) WEST PALM BEACH, FL33401 4. If Amendment, Date Original Filed (MM/DD/YY) 6. Individual or Joint/Group Filing (Check Applicable Line) _____ Form filed by One Reporting Person __ X __ Form filed by More than One Reporting Person (City) (State) (Zip)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned 1.Title of Security (Instr. 3) 2. Transaction Date (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4) Code V Amount (A) or (D) Price Common Stock 05/24/2021 J( 2 )( 3 )( 6 )( 7 ) 6,355,381 D 0 ( 2 ) ( 3 ) ( 7 ) I See Footnotes ( 1 ) ( 2 ) ( 3 ) ( 6 ) ( 7 ) Common Stock 05/24/2021 J( 2 )( 3 )( 6 )( 7 ) 5,198,925 D 0 ( 2 ) ( 3 ) ( 7 ) I See Footnotes ( 1 ) ( 2 ) ( 3 ) ( 6 ) ( 7 ) Common Stock 05/24/2021 J( 2 )( 3 )( 6 )( 7 ) 11,554,306 A 11,554,306 ( 2 ) ( 3 ) ( 7 ) I See Footnotes ( 1 ) ( 2 ) ( 3 ) ( 6 ) ( 7 ) Common Stock 05/24/2021 D( 2 )( 3 )( 6 )( 8 ) 11,554,306 D 0 ( 8 ) I See Footnotes ( 1 ) ( 2 ) ( 3 ) ( 6 ) ( 8 ) Common Stock 05/24/2021 A( 2 )( 3 )( 4 ) ( 5 )( 6 )( 9 )( 10 ) 26,183,280 ( 10 ) A $ 17.25 ( 10 ) 1 ( 9 ) ( 10 ) I See Footnotes ( 1 ) ( 2 ) ( 3 ) ( 4 ) ( 5 ) ( 6 ) ( 9 ) ( 10 )

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities) 1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5) 6. Date Exercisable and Expiration Date (MM/DD/YY) 7. Title and Amount of Underlying Securities (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4) Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares Option (Right to buy) $ 14.87 05/24/2021 A( 2 )( 3 )( 4 )( 5 )( 6 ) 15,522 ( 4 ) ( 5 ) ( 4 )( 5 ) ( 4 )( 5 ) Common Stock 15,522 ( 4 ) ( 5 ) ( 4 ) ( 5 ) 0 ( 4 ) ( 5 ) I See Footnotes ( 1 ) ( 2 ) ( 3 ) ( 4 ) ( 5 ) ( 6 )

Reporting Owners Reporting Owner Name / Address Relationships Director 10% Owner Officer Other Alden Global Capital LLC 777 SOUTH FLAGER DRIVE, SUITE 800W WEST PALM BEACH, FL33401 X X See Remarks Freeman Heath 777 SOUTH FLAGER DRIVE, SUITE 800W WEST PALM BEACH, FL33401 X X See Remarks Signatures ALDEN GLOBAL CAPITAL LLC, Name: /s/ Heath Freeman, Title: President 05/26/2021 Signature of Reporting Person Date HEATH FREEMAN, Name: /s/ Heath Freeman 05/26/2021 Signature of Reporting Person Date

Explanation of Responses:

( 1 )This Form 4 is filed jointly by Alden Global Capital LLC ("Alden") and Heath Freeman, the President of Alden (collectively, the "Reporting Persons"). Each Reporting Person disclaims beneficial ownership of securities of Tribune Publishing Company (the "Issuer") reported herein except to the extent of his or its pecuniary interest therein, and this report shall not be deemed to be an admission that any Reporting Person is the beneficial owner of securities of the Issuer for purposes of Section 16 or for any other purpose. ( 2 )On May 24, 2021, pursuant to the Agreement and Plan of Merger (the "Merger Agreement"), by and among the Issuer, Tribune Enterprises, LLC ("Parent"), and Tribune Merger Sub, Inc., a wholly owned subsidiary of Parent ("Merger Sub"), Merger Sub merged with and into the Issuer (the "Merger"), with the Issuer continuing as the surviving company and as a wholly owned subsidiary of Parent. The Issuer duly filed a certificate of merger with the Delaware Secretary of State on May 24, 2021, at which time the Merger became effective (the "Effective Time"). Pursuant to the Merger Agreement, at the Effective Time, each share of the Issuer's issued and outstanding Common Stock ("Company Common Stock") (other than the Excluded Shares (as defined below) and the Dissenting Shares (as defined below)), was canceled and converted automatically into the right to receive $17.25 in cash, without interest (subject to any applicable withholding tax) (the "Merger Consideration"). ( 3 )(Continued from footnote 2) Each share of Company Common Stock (i) owned by (x) Parent or any of its affiliates or associates or (y) the Issuer, as treasury stock, immediately prior to the Effective Time (collectively, the "Excluded Shares") or (ii) held by stockholders who have not voted in favor of the Merger and have properly and validly perfected their statutory rights of appraisal (the "Dissenting Shares") in accordance with Section 262 of the Delaware General Corporation Law, was canceled and ceased to exist. ( 4 )Pursuant to the Merger Agreement, at the Effective Time, (i) each option to purchase shares of Company Common Stock (each, a "Company Option") outstanding immediately prior to the Effective Time, whether or not exercisable or vested, was automatically canceled and converted into the right to receive an amount in cash equal to the product of (a) the amount by which the Merger Consideration exceeded the applicable exercise price per share of Company Common Stock of such Company Option, and (b) the number of shares of Company Common Stock issuable in respect of such fully vested Company Option as of immediately prior to the Effective Time and (ii) each restricted stock unit entitling the holder to delivery of shares of Company Common Stock, subject to satisfaction of vesting or other forfeiture conditions (each, a "Company RSU") that was outstanding immediately prior to the Effective Time, whether or not vested, was automatically canceled and converted into the right to receive an ( 5 )(Continued from footnote 4) amount in cash equal to the product of (a) the Merger Consideration, and (b) the number of shares of Company Common Stock underlying such Company RSU (and then adding, if applicable, the value of any dividend-equivalent rights accrued with respect to such Company RSU as of the Effective Time), in each case subject to applicable withholding tax. ( 6 )Parent, which is party to the Merger Agreement, is owned by (i) Alden Global Opportunities Master Fund, L.P., ("AGOMF"), (ii) Alden Global Value Recovery Master Fund, L.P ("AGVRMF"), and (iii) Turnpike Limited ("Turnpike"), for each of whom Alden serves as investment adviser. ( 7 )On May 24, 2021, prior to the Effective Time, AGOMF and AGVRMF transferred all of the shares of Company Common Stock directly held by them to Tribune Holdco, LLC ("Holdco"), in exchange for membership interests in Holdco ("Holdco Interests") and certain promissory notes. Immediately prior to such transfers, Holdco was a direct, wholly owned subsidiary of Parent. The previously disclosed 10,093 shares of Company Common Stock held by Randall D. Smith for the benefit of AGOMF and for which AGOMF was entitled to receive all of the economic interest were also contributed to Holdco on behalf of AGOMF. Following such transfers, AGOMF transferred a portion of its Holdco Interests to AGVRMF and Turnpike, after which AGOMF, AGVRMF and Turnpike each contributed all of their Holdco Interests to Parent. Following such contribution, Holdco was again a direct, wholly owned subsidiary of Parent. ( 8 )At the Effective Time, all of the shares of Company Common Stock held by Holdco were converted into a fraction of a share of common stock of the surviving corporation in the Merger, which was immediately cancelled for no consideration. ( 9 )Prior to the Effective Time, Tribune Intermediate Holdco, LLC ("Intermediate Holdco"), a wholly owned subsidiary of Holdco, directly held all of the shares of common stock of Merger Sub. At the Effective Time, pursuant to the terms of the Merger Agreement, all of the shares of common stock of Merger Sub converted into one share of common stock of the surviving corporation. As a result, Intermediate Holdco directly holds the only share of common stock of the Issuer that remains outstanding. ( 10 )Consists of (i) 25,404,856 shares of Company Common Stock that were canceled pursuant to the Merger and automatically converted into the right to receive the Merger Consideration, and (ii) 778,424 shares of Company Common Stock underlying Company RSUs that were automatically canceled pursuant to the Merger and converted into the right of the holders to receive an amount equal to the product of (i) the Merger Consideration, and (ii) the number of shares of Company Common Stock underlying such Company RSUs.

Remarks: Randall D. Smith served on the Board of Directors of Tribune Publishing Company (the "Issuer") as a representative of the Reporting Persons, AGOMF, AGVRMF and their affiliates and Heath Freeman currently serves on the Board of Directors of the Issuer as a representative of Alden Global Capital LLC and its affiliates. For purposes of Section 16 of the Securities Exchange Act of 1934, as amended, the Reporting Persons, AGOMF, AGVRMF and their affiliates are deemed directors by deputization by virtue of their representation on the Board of Directors of the Issuer.Heath Freeman is President of Tribune Publishing Company

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