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Chandler Family May Bid For (Bid Up?) Tribune: Report

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Unsatisfied with the results so far of its push to have the Tribune Company sold, the NYT reports that the Chandler family is considering a bid. The family’s 20 percent of Tribune, acquired with the sale of Times Mirror to Tribune, would be used as the basis of a PE consortium bid for part of the company’s assets. The Times account citing people “briefed on the discussions” or “involved in the talks” says the Chandlers, frustrated with the lack of progress by the Tribune board, have begun holding talks with various PE firms. Even though the family is considering a bid for part of the company, the preference is still for an intact sale. That could be tough given the relatively low interest and low offers for the entire company. As the story notes, the Chandlers also could be part of an effort “to help create a competitive dynamic for Tribune.”