WSJ: Tribune Has Received Bids for Whole and for Parts
How about the Cubs being owned by USA Today? The Wall Street Journal gives us the latest news on the possible sale of all or parts of the Tribune Co. in Monday's paper. Here's what the article tells us:
- "Last week, after putting in a preliminary bid for the entire company, Gannett Co. [owner of USA Today] executives visited Tribune in Chicago to hear management's presentations, according to people familiar with the matter."
- "Until now, interest in buying Tribune in its entirety has been limited to groups of private-equity firms and wealthy individuals, such as supermarket magnate Ron Burkle and real-estate tycoon Eli Broad, who last week teamed up to bid for the company."
- "A separate auction for radio giant Clear Channel Communications Corp., the nation's largest operator of radio stations, could affect the outcome of Tribune's process, given that some private-equity firms, such as Providence Equity Partners and Thomas H. Lee Partners, are involved in bidding for both properties."
- "Tribune is also entertaining offers for the Chicago Cubs baseball team. There are several groups in Chicago that have teamed up to bid on the team, according to people familiar with the auction."
CubsNet.com FearlessBear contributor noted that Chicago area businessman Dan Levin is interested in the Cubs as well.
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Major Investment Companies See Tribune Breakup
Here's an item that confirms my personal judgment that the Chicago Tribune is going to go the way of Marshall Field's. Hopefully the Cubs can be bought by a true Chicago Cubs fan who wants to invest and make them winners.
Recent news shows the thinking is that breakup of the Tribune seems "inevitable". Link: http://www.latimes.com/business/la-fi-tribune15nov15,0,2518028.story?coll=la-home-business
Respectfully,
FEARLESS BEAR
Clear Channel Sold
Quote from earlier post...
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November 16, 2006
Clear Channel Sold
http://www.redherring.com/ (long url)
So, that gets that issue out of the way...
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Photos from Ryne Sandberg Day at Wrigley Field