Archive - Feb 7, 2007

Date

Chicago real estate bigshot Sam Zell and international despot Rupert Murdoch were mentioned today in separate stories about the possible sale of Tribune Company. The piece in the Trib says Zell has not made a bid on the company but has entered into "preliminary" talks to see if a deal could be put in place, probably involving some sort of partnership between himself and the McCormick Tribune Foundation, which is run by current and former Tribune Company execs, including former Chairman John Madigan and current Chairman/CEO Dennis FitzSimons. The possible involvement of Murdoch, meanwhile, was reported at chicagobusiness.com. Like a feral cat who’s sniffed out the alley behind restaurant row, Murdoch has been prowling around the edges of this affair. His name has come up in connection to the Chandler family, former owners of the Los Angeles Times, who sold out to Tribune Company a few years ago, becoming Tribune’s largest shareholder. Murdoch is interested in "working with" the Chandlers on their bid to buy. So sayeth the devil:
"We are interested quite openly; and frankly, if we could do something — not too expensive — that will lead to a joint operating agreement between the New York Post and Newsday."
(Newsday is a Tribune property.) Nowhere in either of these stories are the Cubs mentioned specifically, and given how little I really understand of the five or six paragraphs I’ve just written, I would have to guess the future of Cub ownership will remain mostly cloudy until a deal for Tribune Company is actually struck.
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