McCormick Media’s deal to buy Michael Ferro’s Tronc stake falls through – Chicago Tribune

An investor group’s deal to buy former Tronc Chairman Michael Ferro’s entire stake in the newspaper chain has fallen through. In April, Ferro struck the deal to sell his 25.6 percent stake in Tronc — which owns the Chicago Tribune, the Los Angeles Times and other newspapers — for $208.6 million to McCormick Media. Ferro owned the shares personally and through his Merrick Media and Merrick Venture Management entities.