Private equity group skips Tribune auction
Chicago Tribune reports that a consortium of Madison Dearborn Partners, Apollo Management and Providence Equity Partners could not agree on valuation and thus did not submit a firm bid. A source told the paper that the group would still like to bid on Tribune, but that the offer would be below the company's share price, which closed today at $30.34. The same source said there's been no bid from the Chandler family, though there was some thought to a deal that would split up the newspapers and broadcast operations. No word about the Broad/Burkle interest.
3:28 PM Wednesday, January 17 2007 • Link
Email or share:
Email or share:
© 2003-2008 • About LA Observed • Contact the editor
| Forget plastics, the real action these days is arranging going-out-of-business sales.
| Louis Verdad was one of L.A.'s hottest designers, but he had little idea of how to run a business.
| Without referencing its recent layoff, the Ventura County Star's editor says the suburban LA paper is now "more streamlined and, in many ways, much more efficient."
| We stripped the Indians of their ponies, and now we're doing it to ourselves.
| When the sun looks like that, there's a big fire somewhere regardless of whether we see or smell smoke.
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.
Sponsors
Premium Blogads
Books, Blogs & Events