Tribune Delays Sale Decision
November 28, 2006 at 5:07 PM (PT)
TRIBUNE CO. is going to take a little more time to decide on the sale of the company. The company issued a statement TUESDAY credited to WILLIAM A. OSBORN, Chairman of the independent committee reviewing offers for the company, that read, "We are committed to a complete review process that will yield maximum value for all TRIBUNE shareholders. We anticipate a final recommendation to the full board during the first quarter of 2007."
TRIBUNE, which owns one radio property, Talk WGN-A/CHICAGO, is under pressure from shareholders to sell all or part of the embattled company. Chairman DENNIS FITZSIMONS says that the sale process "has generated strong interest from a number of parties."