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Tribune Co. may have another bidder in the mix, according to sources close to the matter. Sam Zell, Chicago real estate magnate, has approached Tribune Co. with a complicated proposal that may include taking an equity stake while adding debt in order to fund a large dividend for shareholders, writes the Chicago Tribune.
Zell has reportedly spoken with Tribune’s second-largest shareholder, the McCormick Tribune Foundation, about his bid, as he would likely need the foundation’s support to make the deal happen. Running the foundation are current and former Tribune Co. executives, including former chairman and chief executive John Madigan and current chairman and CEO Dennis FitzSimons.
Other sources close to the situation have said that the three offers for the Tribune Co., from the Chandler family, LA billionaires Ron Burkle and Eli Broad, and Carlyle Group, have failed to gain much traction within Tribune’s board committee.
Zell’s move to pull together a bid seems strange to some, considering the fact that his Equity Office Properties Trust is currently the target of one of the biggest bidding wars in Wall Street history.
Marketers have unleashed their holiday promotions earlier than ever this year, with many hitting the stores well before Thanksgiving. But Sirius XM isn’t launching most of its 24-hour holiday music channels until turkey day or later.
The newly merged company…
October advertising revenue plunged for The New York Times Co. and McClatchy, despite some growth in online ad revenue.
The New York Times saw ad revenue plummet 17.2%; online ad revenue increased 5.3%, writes MediaPost. Classifieds have fallen 27.3% year to…
The switch to digital television arrives in less than three months, and to remind consumers of the transition, the National Association of Broadcasters is running a campaign across PumpTop TV’s network of screens at gas stations.
The spot began airing…
Through the first half of the year, automakers have slimmed their ad spending by 10% to $6.1 billion, according to Nielsen Monitor Plus.
General Motors slipped 6% to $1.2 billion, while Ford Motor cut ad spend by 22% to $954…
Getting real-time, 24/7 online access to company news and reaching responsive and efficient PR representatives still rate high on journalists’ wish-lists, but reporters are increasingly sourcing stories from new forms of media as well, according to research from Bulldog Reporter and TEKgroup…
Some 20% of top brand marketers continue to send additional emails to consumers, even after they confirm requests from those consumers to “unsubscribe” from an email marketing list, according to a research study from Return Path, MarketingCharts writes.
Though the study,…
