Chandler family may bid on Tribune
Cory Bergman December 13th, 2006
The Chandler family has been pushing for Tribune to sell for months, but now that the company’s auction is drawing only mediocre interest, the family has begun talks with private equity firms about a joint bid for a majority part of the Tribune Company. The family already owns 20 percent, and the idea would be to boost it to 51 percent with the equity companies holding the remaining 49 percent. Such a deal may involve spinning off Tribune’s television stations.
1 Comment Add your own
1. thedetroitchannel | December 13th, 2006 at 6:27 am
it makes little or no sense to buy the dinosaurs anymore. maybe that’s why the “company’s auction is drawing only mediocre interest”.
one of the larger papers wrote: “what makes rich guys with no newspaper experience think they can make a go of it when people with decades of experience have been unable”.
i think the philadelphia papers situation fits this bill.
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