Tribune Co. Weighs Options for Possible Sale
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Tribune Co.’s board, weighing a possible sale of the company after a four-month search for buyers, said it plans to make a decision by the end of the first quarter.
Directors led by the chief executive officer, Dennis FitzSimons, met yesterday to consider an offer by the Chandler family, Tribune’s largest shareholder, which says the Chicago-based company is worth $7.6 billion, according to people familiar with the matter. Proposals by billionaires Eli Broad and Ron Burkle also were considered, the people said before the meeting.
Tribune may decide against accepting any offer and instead propose its own plan to spin off 23 television stations and retain newspapers including the Los Angeles Times and Chicago Tribune, The Wall Street Journal said Monday.
