No 20% premium on Tribune
Contrary to my suggestion in the earlier post that private-equity firms might be willing to pony up around $40 a share, CNBC's David Faber suggests that the premium to current prices would be much smaller. The problem, he says, is the continued belief that erosion in the newspaper business shows no sign of slowing down. Tribune shares were up 2.4 percent, to $33.79. With all the attention in recent weeks on a possible sale, the stock is only up about a buck - not a great sign.
4:18 PM Thursday, October 26 2006 • Link
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Lee Abrams, Tribune Company's chief innovation officer, doesn’t seem too impressed with the Los Angeles Times. That’s the feeling I got when he appeared at the Los Angeles Press Club.
Seven or fifteen minutes from now I can definitively say I didn't hear the sound of sirens.
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