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The bidding for the Tribune Company may be getting more interesting if a report from the Financial Times about Rupert Murdoch’s involvement proves out. The FT report (sub. req.) has Murdoch joining forces with the Chandlers in their bid for the company, which may or may not actually be for sale. Under this scenario, Murdoch would have a minority stake in the newspapers; the Chandler offer calls for the broadcasting division to be sold or spun off. Citing a person familiar with the situation, the FT said Murdoch wants to combine the back office and operations of Newsday, a Tribune paper, with News Corp.’s NY Post. (A cynic might say the only two things those papers have in common are tabloid newsprint and the state of New York.) News Corp. probably would have a tough time acquiring the paper outright.
— Tribune Board Committee Reviews Options; TV Stations May Be Key
— Tribune Update: Three Bids In, None Stunning; Chandlers, Burkle & Broad Vie