Tribune Company’s exploration of options already includes an auction process; the Journal is reporting that the company is asking for nonbinding “indications of interest” by the end of October. The best bet so far: private equity fimrs. Among those, says the Journal, three main contenders so far: a group with Madison Dearborn Partners, Providence Equity Partners and Apollo Management; an alliance of Thomas H. Lee Partners and Texas Pacific Group; and, in some variation, Carlyle Group.
The Tribune’s preference is to be sold as a whole but some pieces could be picked off. Then again, the board could decide not to sell.
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