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Ron Burkle and Eli Broad have made a last-minute bid for the Tribune Co., after having requested additional financial information earlier this week. Their offer topped the offer from real estate magnate Sam Zell by a dollar a share.
According to someone with knowledge of the offer, the two Los Angeles billionaires sent a letter to Tribune management, saying that, like Zell, they would structure a deal based on an employee stock ownership plan, writes The New York Times. They offered $34 per share.
The proposal would give Burkle and Broad 40 percent of the company, with the remaining 60 percent transferred to employees, according to the source. The employee stock ownership plan is a device which has been successful for many small companies but has had mixed results for larger companies, according to the article.
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…
