Media and newspaper conglomerate Tribune has extended its deadline for deciding whether to sell the company from the end of the year until the Q1 of 2007, based on what it says has been a strong response and been “strong” and would give it time to thoroughly consider all the proposals.
Two Southern California billionaires joined forces this month to bid for the entire Tribune Co. The company also reportedly received four preliminary bids from private-equity investors and one from newspaper publisher Gannett, this AP story says.
Tribune runs 11 newspapers, including the Chicago Tribune and the Los Angeles Times. It also owns 25 television stations, as well as the Chicago Cubs.
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