Ahead of the Bell: Newspapers, Tribune |
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Wed, 24 Jan 2007 14:33
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NEW YORK (AFX) - As one high profile bid for newspaper publisher Tribune Co. was set to expire, another emerged as News Corp. founder Rupert Murdoch joined the Chandler family's offer, according to media reports.According Wednesday's Financial Times, Murdoch wants to combine operations of Tribune's Newsday with News Corp.'s New York Post. Tribune owns 10 other papers, including the Los Angeles Times and the Chicago Tribune -- along with the Chicago Cubs baseball team.The Chandler family, Tribune's largest shareholder, has offered to buy the Chicago-based company and spin off its broadcast division -- which includes 23 television stations -- to shareholders in a deal valued at $7.6 billion.Los Angeles billionaires Eli Broad and Ronald Burkle have also offered to sponsor a recapitalization of the company, a bid that is set to expire Wednesday, according to the Los Angeles Times.Copyright 2006 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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Chandler makes bid for Tribune Co. 