Orlando Sentinel parent company Tribune Publishing shareholders agree to be bought by Alden Capital

Shareholders of Tribune Publishing Co. agreed Friday that the company should be purchased by Alden Global Capital.

The Chicago-based media giant, which owns the Orlando Sentinel, Chicago Tribune, Baltimore Sun, and the New York Daily News, agreed to a $17.25-per-share, or $630 million price from Alden, which currently owns 32% of the company.

The decision puts to rest an effort by Choice Hotels Chairman Stewart Bainum, who along with Swiss billionaire Hansjörg Wyss formed an entity called Newslight…