Monday, January 29, 2007

Cub spinoff part of Tribune restructuring plan?

As I sit and wait for the SuperBowl this Sunday I ran across a bit that seems to show the Cubs are going to be moved in the not-so-distant-future.

Today's Crain's Chicago Business is reporting the Tribune is in talks with priivate equity firms to restructure. As part of the restructuring the TV stations and the Chicago National League Ballclub would be spunoff. Here is what Carin's reported:

Tribune Co. is in talks with private-equity firms about a new deal to restructure the media conglomerate that may include spinning off its television stations and Chicago Cubs baseball team, the company's own Chicago Tribune said Saturday.

Citing sources close to the matter, the Chicago Tribune said management is mulling options from several private-equity firms, including Chicago-based Madison Dearborn Partners, after offers tendered by the Chandlers and Los Angeles billionaires Eli Broad and Ron Burkle were not deemed high enough.

And what would one of these reports be without mention of the Carlyle Group? This from the last paragraph:

A proposal from Washington, D.C.-based private-equity firm Carlyle Group to purchase the television stations for more than $4 billion still stands.

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