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BCE/Carlyle trying to buy LA Times, Chicago Tribune
Carlyle Group reportedly among possible bidders for Tribune Co.
Washington Business Journal - 2:58 PM EDT Monday
The Tribune Co., the embattled publisher of the Los Angeles Times and Chicago Tribune, is mulling an outright sale of the company, asking private-equity firms, including one based in Washington, to submit nonbinding indications of interest by the end of the month, according to a Monday report from The Wall Street Journal.
According to the report, three groups have emerged as possible bidders:
* D.C.-based Carlyle Group;
* Madison Dearborn Partners, Providence Equity Partners, and Apollo Management;
* Thomas H. Lee Partners and Texas Pacific Group.
At the moment, it is unclear whether Carlyle would bid alone or join with a group of buyers.
The report said that some bidders think the Chandler family, the largest shareholder in Tribune after the purchase of Los Angeles' Times Mirror in 2000, would accept a per-share buyout bid in the mid-$30s.
In addition to the Times and Tribune, Chicago-based Tribune Co. (NYSE: TRB) owns Newsday, the Chicago Cubs and 25 television stations.
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This media consolidation bullshit has gone too far. Breaking up these huge companies had better be a high priority of the new congress.
Washington Business Journal - 2:58 PM EDT Monday
The Tribune Co., the embattled publisher of the Los Angeles Times and Chicago Tribune, is mulling an outright sale of the company, asking private-equity firms, including one based in Washington, to submit nonbinding indications of interest by the end of the month, according to a Monday report from The Wall Street Journal.
According to the report, three groups have emerged as possible bidders:
* D.C.-based Carlyle Group;
* Madison Dearborn Partners, Providence Equity Partners, and Apollo Management;
* Thomas H. Lee Partners and Texas Pacific Group.
At the moment, it is unclear whether Carlyle would bid alone or join with a group of buyers.
The report said that some bidders think the Chandler family, the largest shareholder in Tribune after the purchase of Los Angeles' Times Mirror in 2000, would accept a per-share buyout bid in the mid-$30s.
In addition to the Times and Tribune, Chicago-based Tribune Co. (NYSE: TRB) owns Newsday, the Chicago Cubs and 25 television stations.
Link
This media consolidation bullshit has gone too far. Breaking up these huge companies had better be a high priority of the new congress.
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