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Merrill Lynch: Tribune Not Likely to Receive Attractive Offers
No sale of the Tribune Co. will take place by the looming deadline, believes Merrill Lynch analyst Lauren Rich Fine.
Bids are reportedly due Jan. 17, writes Editor & Publisher. In a report issued on Friday (Jan. 12), Fine wrote that, if no sale occurs, the Tribune’s shares, which are currently trading at discount, will recover to the low $30s.
As some had predicted, McClatchy’s sale of the Star Tribune lowered newspaper valuations, as it was rather a “fire sale” transaction, according to Fine.
Tribune Co. will likely consider selling off pieces if offers are too low.