Tribune Denies Report That Zell Deal May Be Fading

By: E&P Staff Bloomberg is reporting that despite analyst rumblings to the contrary, Tribune said its $8.2 billion sale to a group led by billionaire Sam Zell is still on. This disputes claims that the odds of the deal closing as scheduled are no better than 50-50.

Shares of Tribune fell the most in almost five years after Craig Huber of Lehman Brothers cut his earnings estimates for the second-largest U.S. newspaper publisher and questioned whether the $34-a-share leveraged buyout will happen. The shares recovered after the company's comments.

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