Zell wows Tribune with late offer *

Chicago real estate developer Sam Zell has proposed to take over Tribune Company and Trib is listening, the New York Times reports on its website. Zell's late-hour play has put a stop, at least temporarily, to Tribune's deliberations about an internal makeover. Mark Lacter at LA Biz Observed has the earlier read on Zell's interest.

* Corrected post: $39 billion is what Zell got for selling his real estate empire, not what he offered for the Tribune.