US: Consortium to bid for part of Tribune?
Posted by Jodie Hopperton on December 13, 2006 at 1:01 PM
Long owner of The Los Angeles Times, the Chandler family, have been holding talks with private equity firms in order to form a consortium to buy part of the Tribune. The family is a large shareholder in the company but has had several clashed with Tribune management, pushed to put the business up for sale six months ago.
The family currently have a 20% stake which would be increased to 51% with private equity firms taking the remainder. A structured buyout could also give huge tax advantages.
It has been reported that bids for the business have been scarce with only Gannett as a serious contender.
Source: Ifra Executive News and NYTimes.com
It has been reported that bids for the business have been scarce with only Gannett as a serious contender.
Source: Ifra Executive News and NYTimes.com
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