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Monday, April 02, 2007 |
Billionaire Sam Zell Buys Tribune Corp.
Stories in the Chicago Tribune, the Los Angeles Times, and the AP report that Sam Zell has purchased the Tribune Corp. and all its assets, including both newspapers above and the Chicago Cubs. Zell intends to sell the Cubs and their 25% stake in Comcast SportsNet Chicago, whose owners include the White Sox, and Chicago Blackhawks hockey team.
Under the deal, the Chandler family will no longer be connected with the Times:
... the deal would effectively liberate the Chandler family of California – owners of the Los Angeles Times for more than a century – from a newspaper business with which they have become disillusioned. For the second time in seven years, the Chandlers helped push The Times into the hands of new, Chicago-based owners.Carrie Muskat writing for MLB.com claims the Cubs could fetch $600M.
Labels: cubs
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