Tribune Launches Stock Buyback
April 25, 2007 at 5:46 AM (PT)
TRIBUNE's sale to SAM ZELL is moving forward with the official commencement of its stock buyback.
The company has started to repurchase up to 126 million shares of its common stock for $34 per share under the previously announced sale. The tender offer started today (4/25) and expires on MAY 24 and represents the repurchase of over 50% of the company's outstanding common shares with a total value of about $4.3 billion.