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4/16, 5:17 PM (Source: TeleTrader.com)
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Tronc shares jump over 10% on reports of SoftBank's bid

Shares of Tronc Inc. have spiked over 10% on Monday after reports that SoftBank Group Corp. is mulling to purchase the Chicago-based media publishing company. Earlier in the day, Axios reported that the Japanese holding conglomerate is one of the possible buyers of the media giant which owns the Chicago Tribune, the New York Daily News and The Baltimore Sun.

Earlier, Tronc sold the Los Angeles Times, the San Diego Union-Tribune and other regional newspapers to biotech billionaire Patrick Soon-Shiong for $500 million, in an attempt to switch from print to digital news.

At 5:14 pm CET, Tronc's stocks surged 8.86%.

Breaking the News / NI