Tribune Retirement Plan Changes Arouse NY Post Suspicion Of Pending Sale
October 25, 2006 at 11:54 AM (PT)
Does TRIBUNE management know something they're not saying publicly yet? That's the NEW YORK POST's inference from TRIBUNE's changes to its retirement and bonus plans to grant some executives payouts if the company changes owners, a procedure the POST notes is usually instituted when a company sale is contemplayed.
The POST says that TRIBUNE has "attracted the interest of at least five brand-name buyout shops," including one group comprised of MADISON DEARBORN PARTNERS, PROVIDENCE EQUITY PARTNERS, and APOLLO MANAGEMENT, and another involving THOMAS H. LEE PARTNERS and TEXAS PACIFIC GROUP and a third, less-serious tire-kicker in THE CARLYLE GROUP.
TRIBUNE owns one radio property, WGN-A/CHICAGO.