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.

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Mark Lacter
Mark Lacter created the LA Biz Observed blog in 2006. He posted until the day before his death on Nov. 13, 2013.
Mark Lacter, business writer and editor was 59
The multi-talented Mark Lacter
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