L.A. Billionaires Bid On Tribune

For Sale By Owner

The LOS ANGELES TIMES is reporting that LOS ANGELES-based billionaire real estate magnate ELI BROAD and investor RON BURKLE have submitted a bid to buy the paper's parent, TRIBUNE CO. The report does not quote a price or other terms, but BROAD and BURKLE have been open about their interest in acquiring the TIMES. TRIBUNE CO. owns one radio property, Talk WGN-A/CHICAGO, and is entertaining bids for the company; last week, it opened bids on indivdual assets after initially getting only offers close to the company's current share price.

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