With tomorrow’s deadline for submitting bids on the Tribune Company, the media makes it sound like the possibility of no sale a big possibility. Here are a few examples of what’s being said in the blogosphere and newspapers.
New York Times
They seem an unlikely pair: Eli Broad, the straight-talking billionaire whose art collection and philanthropic efforts to revitalize downtown Los Angeles have put him happily in the public eye, and Ronald W. Burkle, the supermarket mogul, Democratic fund-raiser and F.O.B. (friend of Bill Clinton) who tries — usually unsuccessfully — to avoid publicity.
Take Back the Times
In this context, I hear from someone who is probably a good source that William Steinhart, Jr., a Chandler family representative on the Tribune board, is telling associates that the Chandler family, which controls 20% of Tribune stock, will join one of the billionaire bidders in purchasing the Times, although the family will not directly participate in running the newspaper itself.
LA Biz Observed
“Nobody wants to bid now because everyone thinks the price will be lower next week.”
LAObserved
Merrill Lynch analyst Lauren Rich Fine thinks the most likely outcome of the Tribune Company's dance with potential buyers is no outcome -- that no sale will take place.
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