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Report: Apollo Global Management eyes Tronc

Photo by Drew Angerer/Getty Images

Private equity firm Apollo Global Management has interest in buying newspaper conglomerate Tronc, according to The New York Post. Axios has since confirmed the interest.

Bottom line: Apollo has a reputation for buying distressed assets, but private equity firms have generally shied away from buying consumer-facing print media. Particularly ones that don't own most of their real estate.

Tronc has been plagued by controversy for months leading up to a potential sale. The NY Post report comes the day after the ouster of Tronc's chief content officer and several other layoffs.

The company also is in the midst of selling two of its biggest properties, the LA Times and San Diego Union-Tribune, to billionaire Patrick Soon-Shiong. The Apollo report might give Tronc some leverage in those negotiations, although the NYP says neither side can back out and Tronc executives have said a final agreement is imminent.

Go deeper

Jonathan Swan
2 hours ago - Politics & Policy

Trump pressures Barr to release so-called Durham report

Bill Barr. Photo: Jabin Botsford/The Washington Post via Getty Images

President Trump and his allies are piling extreme pressure on Attorney General Bill Barr to release a report that Trump believes could hurt perceived Obama-era enemies — and view Barr's designation of John Durham as special counsel as a stall tactic, sources familiar with the conversations tell Axios.

Why it matters: Speculation over Barr's fate grew on Tuesday, with just 49 days remaining in Trump's presidency, after Barr gave an interview to the Associated Press in which he said the Justice Department has not uncovered evidence of widespread fraud that could change the election's outcome.

Go deeper (1 min. read)Arrow
Jonathan Swan, Rebecca Falconer
2 hours ago - Health

CDC to cut guidance on quarantine period for coronavirus exposure

A health care worker oversees cars as people arrive to get tested for coronavirus at a testing site in Arlington, Virginia, on Tuesday. Photo: Olivier Douliery/AFP via Getty Images

The CDC will soon shorten its guidance for quarantine periods following exposure to COVID-19, AP reported Tuesday and Axios can confirm.

Why it matters: Quarantine helps prevent the spread of the coronavirus, which can occur before a person knows they're sick or if they're infected without feeling any symptoms. The current recommended period to stay home if exposed to the virus is 14 days. The CDC plans to amend this to 10 days or seven with a negative test, an official told Axios.

  • The CDC did not immediately respond to a request for comment.
Shawna Chen
3 hours ago - Health

CDC panel: COVID vaccines should go to health workers, long-term care residents first

Hospital staff work in the COVID-19 intensive care unit in Houston. Photo: Go Nakamura via Getty

Health-care workers and nursing home residents should be at the front of the line to get coronavirus vaccines in the United States once they’re cleared and available for public use, an independent CDC panel recommended in a 13-1 emergency vote on Tuesday, per CNBC.

Why it matters: Recent developments in COVID-19 vaccines have accelerated the timeline for distribution as vaccines developed by Pfizer and Moderna undergo the federal approval process. States are preparing to begin distributing as soon as two weeks from now.

Go deeper (1 min. read)Arrow