Report: Tribune close to accepting offer

Cory Bergman March 28th, 2007

Bloomberg is reporting that Tribune “will probably accept” real estate billionaire Sam Zell’s $8 billion takeover offer by the end of the week. Zell said he intends to keep the company intact and not split off the TV stations, including stakes in the Food Network and CareerBuilder Inc. The takeover would take the company private. Tribune’s auction has stretched on for six months, and the company’s stock price has dropped 8.4 percent over the same period. The company’s self-imposed deadline on a decision is March 31st.