By: E&P Staff
Following Monday’s announcement that the Tribune company had accepted a buyout offer from Chicago real estate mogul Sam Zell, everyone seems to be weighing in on different aspects of the deal and who might be affected. Here are a dozen articles of note today about the sale and its possible aftermath.
— Chicago Tribune: Poor timing and the Chandler family’s brawl with management contributed to Tribune’s lower-than-desired sale price.
— Los Angeles Times: David Geffen said Monday that he would still like to acquire the LA Times. “I think there is an opportunity for Tribune Co. of Chicago to maximize shareholder value” by selling him the paper, he said.
— Wall Street Journal: Tribune Co. and Sam Zell just took out a risky loan on the future of the newspaper industry. Now, they have to start paying it back.
— Chicago Sun-Times: Excluding Wrigley Field from any deal involving the sale of the Cubs would at most repel some potential buyers and at least add significant risk to a deal that could potentially be the most lucrative franchise sale in baseball history.
— The Sun of Baltimore: Zell’s no-nonsense style closed the Tribune deal.
— Newsday: Under Zell, some say Tribune might buy more media properties.
— New York Times: Eli Broad and Ron Burkle reconvened yesterday with their financial advisers to consider making a new bid for the entire company.
— BusinessWeek: The buyout of a hugely indebted old media company raises more questions than it answers, writes Jon Fine.
— Los Angeles Times: The chatter in Chicago revolved around one thing: Tribune’s plans to sell the beloved Cubs after this baseball season.
— Chicago Tribune: The deal to take Tribune Co. private would end the Robert R. McCormick Tribune Foundation’s long standing as a major shareholder of the company, but other ties between the Chicago-based media concern and the Chicago-based philanthropy are expected to continue.
— Newsday: Tribune employees and their unions are sizing up how proposed change in company structure to stock ownership plan would affect them.
— Economist: If newspapers are dead, the corpses are oddly popular.