That's right, but it's also not like selling a privately held company. Similar fiduciary obligations/issues apply as in the sale of a public company. The fact that those harmed by acceptance of a lower bid are employees of the Tribune makes it all the less likely. I think a key issue, though, is that it's the Trib that has the fiduciary responsibility, not MLB. If the Trib accepts the highest bid but MLB doesn't approve it the Trib couldn't be held liable. They will have done their part. Sam Zell doesn't appear to be the type of guy that will would go down quietly. He bought the Tribune Co. to make money, and if Cuban is offering the most money, he is going to move heaven and earth to make sure that Cuban is approved. And I hope he succeeds (I'm all for Cuban). However, if they're hell-bent against it, Zell can't FORCE MLB to approve Cuban. He can make their lives pretty miserable if they stick to their guns though. From the little I've seen of Zell, I don't think he would have much problem lighting all kinds of fires to get what he wants. But if it's just money, I would think something could be worked out to help a more acceptable bidder come close to the top bid to satisfy that aspect of the equation.