Tribune Co. shares jumped nearly 5 percent yesterday after billionaire investor Nelson Peltz reported he acquired a 1.2 percent stake in the company.
According to a filing Monday with the Securities and Exchange Commission, Peltz’ Manhattan-based hedge fund, Trian Fund Management, bought 2.83 million shares of Tribune during the quarter ended June30. Tribune’s shares rose $1.46 on the news to close at $31.24 yesterday.
A Tribune spokesman said the company, which owns Newsday, the Los Angeles Times and Chicago Tribune, had no comment.
