Tribune now willing to sell individual assets

[5412]

Hi all,

 

Good thread on the Cubs and Tribune Company. Right now all the assets of the Tribune are likely for sale to the highest bidder. You can forget about Tribune folks buying it because the Cubs and WGN will likely go as a package for $750 million or more......which really limits the number of potential buyers.

 

Wrigley III was mentioned a few weeks ago as a potential buyer and that would be a good thing. The reason the family had to sell in the first place was to pay estate taxes and the word is he wants to be the Wrigley that wins a world series in Chicago. would not mind that in the least.

 

Whoever buys the team would have to put money into the team. I am not one who appreciates the current management who has been bleeding a ton of money from the team. Until someone can tell me why, when the salary tax cuts in at $117 million this year, then why was our payroll $95 million instead of $115 million? Tax number goes up to $137 million in 2007 and $148 million in 2008. Then our number should follow that and be a few million under that number. Anything short of that tells me that they are not in the least bit committed to winning.

 

After the collective bargaining agreement was announced the team said our payroll should go over $100 million a little bit. That will not cut it, we are going to see salaries skyrocket over the next two years.

[beowulf28]

Rather than rooting for one faceless corporation to replace another, I think I prefer to hold out hope for more of an 'experienced' sports owner to buy the Cubs. Whatever that is.........but I mean somebody who might have a desire for winning that overrides the bottom line or the stock holders (at least every once in awhile).

 

I agree, Soul. One owner, or a consortium (sp?) of owners who have the best interests of the team, and therefore, the fans at heart; not the interests of stockholders. :roll:

[Section538]

I just saw this:

 

L.A. billionaires bid for Tribune Co.

Billionaire businessman Eli Broad and supermarket magnate Ron Burkle have teamed to submit a bid for Tribune Co., The Associated Press has learned. Details of the offer by the companies controlled by the two businessmen were not disclosed. A person familiar with the offer who was not authorized to publicly discuss it confirmed Wednesday the bid was submitted.

 

http://www.hollywoodreporter.com/hr/content_display/news/e3irjxs41AWkRd9HNFr2C9weA%3D%3D

 

No details and not a single mention of the Cubs...

 

 

(Edited to fix link)

Edited November 8, 2006 by Section538

[Banedon]

Sounds like they're bidding on the whole enchilada...

[C.C.]

They could still sell off the Cubs even if they win the bid. Trust me they are going to get many, many, bids in the coming months.

[oldcubsfan]

these are non binding bids. They are NOT making a takeover offer for the stock, yet.

[C.C.]

Sounds like they want control over the LA Times:

 

Broad and Burkle have long said they would be interested in returning the Times to local ownership.

 

So they could go ahead and still sell the Cubs and the Trib.

[Cubfanintheknow]

Here's more on the potential sale of the tribune from NBC 5's website:

 

http://www.nbc5.com/news/10275626/detail.html

[mjuedes]

Good thread on the Cubs and Tribune Company. Right now all the assets of the Tribune are likely for sale to the highest bidder. You can forget about Tribune folks buying it because the Cubs and WGN will likely go as a package for $750 million or more......which really limits the number of potential buyers.

 

I recall a month ago when I created a post that said that a Tribune exec. was 99.9% sure the Cubs would be sold before the start of the 2007 season began and was ripped apart as a liar and chastized as a "troller." My post doesn't look so bad anymore does it Giles Bros. and Vince the Cub Fan. The fact that I knew of the impending sale of the Tribune's assets before it was made public was legitimate. Anyway, here is an update from the same source: About 2 weeks ago the Tribune started taking bids on all of their assets from potential investors to gauge the demand/value of each asset. The bidding was to last for 2 weeks and then they were going to have a meeting of the top exec's and make a decision before they presented it to the board of directors at the monthly meeting. This all should happen quickly, oncew the decision is made to sell off the assets and go back to its core competencies because the bidders are already out there.

[RedIvyCub]

Good thread on the Cubs and Tribune Company. Right now all the assets of the Tribune are likely for sale to the highest bidder. You can forget about Tribune folks buying it because the Cubs and WGN will likely go as a package for $750 million or more......which really limits the number of potential buyers.

 

I recall a month ago when I created a post that said that a Tribune exec. was 99.9% sure the Cubs would be sold before the start of the 2007 season began and was ripped apart as a liar and chastized as a "troller." My post doesn't look so bad anymore does it Giles Bros. and Vince the Cub Fan. The fact that I knew of the impending sale of the Tribune's assets before it was made public was legitimate. Anyway, here is an update from the same source: About 2 weeks ago the Tribune started taking bids on all of their assets from potential investors to gauge the demand/value of each asset. The bidding was to last for 2 weeks and then they were going to have a meeting of the top exec's and make a decision before they presented it to the board of directors at the monthly meeting. This all should happen quickly, oncew the decision is made to sell off the assets and go back to its core competencies because the bidders are already out there.

 

Well considering that ALL of this was in the media, I can ascertain that you read all of this in the newspapers. I know I did...known about it all for a while. It was all out there if you just looked for it.

[nilodnayr]

http://www.dailyherald.com/sports/rozner.asp?id=248088

 

Cubs for 1 Billion Dollars? Since when did they replace FitzSimmons with Dr. Evil.

[sethuel1]

Good thread on the Cubs and Tribune Company. Right now all the assets of the Tribune are likely for sale to the highest bidder. You can forget about Tribune folks buying it because the Cubs and WGN will likely go as a package for $750 million or more......which really limits the number of potential buyers.

 

I recall a month ago when I created a post that said that a Tribune exec. was 99.9% sure the Cubs would be sold before the start of the 2007 season began and was ripped apart as a liar and chastized as a "troller." My post doesn't look so bad anymore does it Giles Bros. and Vince the Cub Fan. The fact that I knew of the impending sale of the Tribune's assets before it was made public was legitimate. Anyway, here is an update from the same source: About 2 weeks ago the Tribune started taking bids on all of their assets from potential investors to gauge the demand/value of each asset. The bidding was to last for 2 weeks and then they were going to have a meeting of the top exec's and make a decision before they presented it to the board of directors at the monthly meeting. This all should happen quickly, oncew the decision is made to sell off the assets and go back to its core competencies because the bidders are already out there.

 

yeah, that vince is a real jerk sometimes

[snoodmonger]

Good thread on the Cubs and Tribune Company. Right now all the assets of the Tribune are likely for sale to the highest bidder. You can forget about Tribune folks buying it because the Cubs and WGN will likely go as a package for $750 million or more......which really limits the number of potential buyers.

 

I recall a month ago when I created a post that said that a Tribune exec. was 99.9% sure the Cubs would be sold before the start of the 2007 season began and was ripped apart as a liar and chastized as a "troller." My post doesn't look so bad anymore does it Giles Bros. and Vince the Cub Fan. The fact that I knew of the impending sale of the Tribune's assets before it was made public was legitimate. Anyway, here is an update from the same source: About 2 weeks ago the Tribune started taking bids on all of their assets from potential investors to gauge the demand/value of each asset. The bidding was to last for 2 weeks and then they were going to have a meeting of the top exec's and make a decision before they presented it to the board of directors at the monthly meeting. This all should happen quickly, oncew the decision is made to sell off the assets and go back to its core competencies because the bidders are already out there.

 

yeah, that vince is a real jerk sometimes

 

you'd be hard-pressed to find anyone on this board who likes Vince the Cub Fan.

[vance_the_cubs_fan]

Vince pisses me off all the time! :lmao:

[snoodmonger]

Last week Burkle and Broad teamed up to bid for Chicago-based Tribune Co., which acquired the paper in 2000 when it bought Times Mirror Co. Details were not disclosed. It's believed that if they succeed they would sell off Tribune's other newspapers, TV stations and its baseball team — the Chicago Cubs — and keep just the Times.

 

http://news.yahoo.com/s/ap/20061112/ap_on_bi_ge/la_times_billionaire_bidders

[photoguy9883]

Apparently Gannett is entering the fray as one of the potential suitors for Tribune Co.

 

http://news.yahoo.com/s/ap/20061113/ap_on_bi_ge/tribune_gannett[/code]

[Soul]

Interesting stuff. It's been Tribune for so long, I can't really wrap my mind around a change of owners until it actually happens.

 

Also, I should just throw this out there: careful what you wish for. I'll bet not all these bidders would make good owners. Sounds like the Trib, if they sell, will be selling in the same mode they bought the team: FOR ALL THE WRONG REASONS.

 

And that doesn't give me much comfort. When you buy the team because you love baseball, and then you sell it with the idea of ensuring the city has a continued winner, then that's one thing.

 

When you buy for profit, and sell because you're tanking........that's another story entirely. Sounds like the Trib is squarely in this second category.

[CheeseHead Cubs Fan]

12/1 PTI interviewed Mark Cuban, he was asked if he would be interested in purchasing the Cubs.

 

He said he thinks the Trib needs to figure out how to sell first. When and if the are willing to spin off the Cubs, he would be a person who would be interested in talking with them.

 

Someday, I hope this works out!

 

(please note: that was not a direct quote, but a pretty good summary of his thoughts)

[kroth1342]

Good thread on the Cubs and Tribune Company. Right now all the assets of the Tribune are likely for sale to the highest bidder. You can forget about Tribune folks buying it because the Cubs and WGN will likely go as a package for $750 million or more......which really limits the number of potential buyers.

 

I recall a month ago when I created a post that said that a Tribune exec. was 99.9% sure the Cubs would be sold before the start of the 2007 season began and was ripped apart as a liar and chastized as a "troller." My post doesn't look so bad anymore does it Giles Bros. and Vince the Cub Fan. The fact that I knew of the impending sale of the Tribune's assets before it was made public was legitimate. Anyway, here is an update from the same source: About 2 weeks ago the Tribune started taking bids on all of their assets from potential investors to gauge the demand/value of each asset. The bidding was to last for 2 weeks and then they were going to have a meeting of the top exec's and make a decision before they presented it to the board of directors at the monthly meeting. This all should happen quickly, oncew the decision is made to sell off the assets and go back to its core competencies because the bidders are already out there.

 

yeah, that vince is a real jerk sometimes

 

you'd be hard-pressed to find anyone on this board who likes Vince the Cub Fan.

 

Good one, you've never made a mistake typing I assume?

[Ding Dong Johnson]

Good thread on the Cubs and Tribune Company. Right now all the assets of the Tribune are likely for sale to the highest bidder. You can forget about Tribune folks buying it because the Cubs and WGN will likely go as a package for $750 million or more......which really limits the number of potential buyers.

 

I recall a month ago when I created a post that said that a Tribune exec. was 99.9% sure the Cubs would be sold before the start of the 2007 season began and was ripped apart as a liar and chastized as a "troller." My post doesn't look so bad anymore does it Giles Bros. and Vince the Cub Fan. The fact that I knew of the impending sale of the Tribune's assets before it was made public was legitimate. Anyway, here is an update from the same source: About 2 weeks ago the Tribune started taking bids on all of their assets from potential investors to gauge the demand/value of each asset. The bidding was to last for 2 weeks and then they were going to have a meeting of the top exec's and make a decision before they presented it to the board of directors at the monthly meeting. This all should happen quickly, oncew the decision is made to sell off the assets and go back to its core competencies because the bidders are already out there.

 

yeah, that vince is a real jerk sometimes

 

you'd be hard-pressed to find anyone on this board who likes Vince the Cub Fan.

 

Good one, you've never made a mistake typing I assume?

 

Neevr