Thursday, January 04, 2007

McCormick Foundation Hires Blackstone Group as Adviser

The McCormick Tribune Foundation, which owns 28 million shares of Tribune common stock or an 11.7 percent stake in the company, has hired the Blackstone Group to evaluate Tribune's strategic assessment plan.

The foundation will look at either buying or selling shares in the company on the open market or with private investment groups.

Tribune's largest shareholder, the Chandler Family, has been reported to be in negotiations with Ron Burkle's Yucaipa Cos to offer a bid for the Tribune Company as well.

Read the complete article on Chicago Business.

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