Report: Zell Mulling Bid For Tribune
February 7, 2007 at 5:50 AM (PT)
Is SAM ZELL interested in a bid for the TRIBUNE CO.? The CHICAGO TRIBUNE reports that ZELL, the real estate mogul and former JACOR investor, has approached TRIBUNE with a "complicated proposal" that involves an equity stake and taking on debt to pay a dividend to shareholders.
The paper's sources say ZELL has spoken to shareholder THE MCCORMICK TRIBUNE FOUNDATION about the plan and describe the ZELL-TRIBUNE talks as "preliminary." ZELL's own EQUITY OFFICE PROPERTIES has been the target of a takeover battle of its own since NOVEMBER.
TRIBUNE owns Talk WGN-A/CHICAGO.