categories

HOT TOPICS

NEWSLETTER

If you are considering becoming a 1M/1M premium member and would like to join our mailing list to receive ongoing information, please sign up here.

Subscribe to our Feed

Tribune To Zell

Posted on Monday, Apr 2nd 2007

Tribune Company accepted a bid from Sam Zell after the Chicago real-estate tycoon met the company’s demand for a higher offer to match one from Los Angeles billionaires Ronald W. Burkle and Eli Broad, The New York Times reported, citing a person close to the talks. Precise terms of the deal were expected to be disclosed this morning, though the price is $34 a share, or $8.2 billion, this person said. The sale would close a contentious 10-month chapter in the history of the storied Tribune Company, which owns The Los Angeles Times, The Chicago Tribune and other newspapers, 23 television stations and the Chicago Cubs. [The New York Times Article]

Does Sam Zell understand what he has in his hands, and what needs to be done to turn the company around? It may be a very good idea to focus on the online business, and sell of the television stations. Managing a large, diversified portfolio, ridden with so much debt, will create a lack of focus that will make a turnaround impossible to engineer otherwise.

Hacker News
() Comments

Featured Videos