Tribune Publishing (NASDAQ:TPCO) has adopted a limited-duration stockholder rights agreement to cut likelihood of a change of control against a volatile market.

It's declared a dividend distribution of one right for each outstanding share of common stock outstanding as of Aug. 7; those rights expire on July 27, 2021.

The rights generally become exercisable if a person/group reaches a 10% stake in an unapproved transaction; passive investors are exempt.

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