Tribune execs may participate in bid

Dec. 18, 2006
By Gregory Meyer

(Crain’s) — Tribune Co. executives may ally with private investment firms to make a bid of their own for the media conglomerate, according to the Los Angeles Times.

A group of executives led by Tribune CEO Dennis FitzSimons would team up with three private-equity firms contemplating bids for the Chicago-based company, the Times reported. Among the private-equity firms is Chicago-based Madison Dearborn Partners LLC, the newspaper said Monday.

Sources close to the process told Crain’s, however, that executives are unlikely to lead any buyout effort but could very well have a future management role in the company. The Madison Dearborn group, which also includes Providence, R.I.-based Providence Equity Partners and Apollo Management of New York, is talking to management about Tribune’s businesses but “how this shakes out is very unclear at this stage,” one source said.

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