Follow LA Observed on Twitter here
That's what the WSJ's M&A guy Dennis Berman just posted, based on three sources. And Tribune stock, after falling sharply this morning, is back up over $33 a share. Berman notes that the company received a solvency opinion from a third party adviser, which supposedly will provide comfort to all parties - as will the pending sale of the Cubs, which is expected to go for over $1 billion. That money will help in making debt payments. The Journal post says that the deal will be completed tomorrow.
More by Mark Lacter:
American-US Air settlement with DOJ includes small tweak at LAXSocal housing market going nowhere fast
Amazon keeps pushing for faster L.A. delivery
Another rugged quarter for Tribune Co. papers
How does Stanford compete with the big boys?
Those awful infographics that promise to explain and only distort
Best to low-ball today's employment report
Further fallout from airport shootings
Crazy opening for Twitter*
Should Twitter be valued at $18 billion?
Recent stories:
Letter from Down Under: Welcome to the HomogenoceneOne last Florida photo
Signs of Saturday: No refund
'I Am Woman,' hear them roar
Bobcat crossing
New at LA Observed
On the Politics Page
Go to Politics
Sign up for daily email from LA Observed
Mark Lacter created the LA Biz Observed blog in 2006. He posted
until the day before his death on Nov. 13, 2013.