Translated material
Sam Zell will buy Tribune Co.
The Chicago real estate mogul has won a bid to buy a publishing and broadcasting company. In addition to Zell, Los Angeles-based billionaire philanthropist Eli Broad and his partner Ron Burkle, an investor in...
The Chicago real estate mogul has won a bid to buy a publishing and broadcasting company. In addition to Zell, Los Angeles-based billionaire philanthropist Eli Broad and his partner Ron Burkle, an investor in the food sector of the market, fought for the right to own the Tribune. The total deal will be $8.1 billion, or $34 per Tribune share.
The Tribune owns 11 newspapers, including the Chicago Tribune and the Los Angeles Times, 23 television stations, and the Chicago Cubs baseball team. The new owner has already announced that the team will be sold by the end of the 2007 season, Lenta.ru reports .