Former hedge fund manager William Z. Wyatt is leading a group of investors that are close to a deal to acquire newspaper publisher Tronc, sources told Business Insider. Wyatt was previously a manager at Starboard Value. At least one other private equity bid for Tronc may also be in the works, the Chicago Tribune reported on Wednesday. An investment group formed by former hedge fund manager William Z. Wyatt is close to a deal to acquire newspaper publisher Tronc, according to people familiar with the matter. The people cautioned that there is no certainty a deal will be reached.