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The Tribune Co., which was expected to announce this week that it was selling itself to real estate mogul Sam Zell, has responded to a request for additional financial information from Eli Broad and Ronald Burkle.
The response could mean that the negotiating process will be reopened, and that Broad and Burkle may have a chance to sweeten their original offer and get back in the running, reports The New York Times.
Zell’s late bid for the company was based on an employee stock ownership plan. Broad and Burkle apparently expressed a complaint that Zell received financial information that they had not been given, and asked for that information a few days ago.
Tribune Co. had named Saturday as a deadline for an announcement about any possible sale, but the fact that Broad and Burkle may be back in the running could cause a delay.
CBS Radio and Yahoo, two of the largest online radio providers, are combining their online radio stations, beginning early next year.
CBS Radio’s 150 stations and LaunchCast’s 150 online stations will be integrated into Yahoo’s music site, powered by CBS…
Cox Enterprises, Inc. announced today that the company is bringing together its three media units - Cox Newspapers, Cox Television and Cox Radio - under a new organization named Cox Media Group, Inc., effective January 2009. The subsidiary will be headquartered…
Target is one of the first brands to create an iPhone application. The Target “gift globe” allows iPhone users to shake their phones to launch a snow-fall effect.
When the snow clears, a gift idea from Target is revealed. Users…
ABC is set to launch a slew of new series in a midseason shuffle. Primetime: What Would You Do? returns Tuesday, Jan. 9, in the 10pm time slot. The show is a hidden camera experiment in which actors stage scenarios…
Only 28% of the audience of an average news program, website or magazine gets valuable information about products and services advertised there, making news venues less effective at conveying ad messages than all forms of media combined (see chart), according…
Effective immediately, any telemarketing call that delivers a prerecorded message must include a quick and easy way to opt-out of receiving future calls. The opt-out must work both for consumers who answer these calls in person and for those whose…
