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Wednesday, January 17, 2007

Interest From Bidders Low For Tribune Co.

Interest in buying the Tribune Company appears to be very low among the potenial buyers, with very few bids submitted as of yesterday. The end of the bidding process ends at 5:00 p.m. central time today.

Sources close to the situation have said the private-equity group -- Chicago's Madison Dearborn Partners, New York's Apollo Management and Rhode Island's Providence Equity Partners--might not follow through on a bid.

What a non-sale could mean to stock holders and employees of the Tribune is anyones guess, from a tax-free spinoff of assets, buying back additional shares, and or paying out a big dividend.

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