L.A. Billionaires Broad and Burkle Submit Bid for Tribune

NEW YORK Two Los Angeles billionaires have reportedly placed a bid on the Tribune Co., according to the Los Angeles Times.

Eli Broad, a philanthropist, and Ron Burkle, head of the investment firm Yucaipa Companies, submitted a "competitive bid" for the Chicago-based company, an unnamed source told the Los Angeles Times' James Rainey.

Broad declined to comment to the paper and Burkle could not be reached.

Both Broad and Burkle have expressed interest in owning the Los Angeles Times over the past several months. Entertainment mogul David Geffen is still reportedly interested in the paper as well but has not submitted an offer.

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