May 23, 2016 / 10:45 AM / 4 years ago

BRIEF-Oaktree Capital comments on Tribune Publishing-Gannett deal

May 23 (Reuters) -

* Believe it incumbent upon tribune publishing’s board to establish an independent committee with its own independent advisors

* Would be in best interests of tribune shareholders for independent committee to evaluate, respond to gannett’s proposal

* Independent committee to consider gannett’s proposal and determine tribune’s response

* Never received a $15 per share offer for tribune publishing’s shares from an independent third party - sec filing

* On may 20, tribune chairman ferro asked if we would sell our shares to unidentified party

* Declined to sell shares to unidentified party; better price than $15per share to be available if board engaged “constructively” with gannett

* Do not know anything about identity of "purported buyer" of tribune's shares or whether deal could have been arranged Source text: (1.usa.gov/1WcdA27) (Bengaluru Newsroom: +1-646-223-8780)

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