Tribune Co. Rejects Consortium Inquiry About Baltimore Sun

TRIBUNE CO REJECTS CONSORTIUM INQUIRY ABOUT BALTIMORE SUN
[SOURCE: Washington Post, AUTHOR: Frank Ahrens]
The embattled Tribune Co., which has put its 11 newspapers and 25 television stations up for sale, is not ready to consider bids for individual properties. Ted Venetoulis, a businessman and former local politician, is leading a consortium of prominent Baltimoreans who want to buy the Sun, if Tribune decides to break up the company and sell it piece by piece. Tribune has declined Venetoulis access to the Sun's books, saying the company continues to seek a single buyer for all of its properties. Venetoulis said he has had conversations with nearly all of the bidders who want to purchase the entire company to let them know they have a willing buyer for the Sun if the new owners want to unload the Baltimore paper. The company received nonbinding bids in late October from Los Angeles billionaires Eli Broad and Ron Burkle, private equity firms Bain Capital, Thomas H. Lee Partners and Providence Equity Partners and record company mogul David Geffen. The Gannett Co., owner of USA Today, also reportedly expressed an interest.
http://www.washingtonpost.com/wp-dyn/content/article/2006/11/27/AR2006112701060.html
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