Interest seems muted in bids for Tribune

INTEREST SEEMS MUTED IN BIDS FOR TRIBUNE
[SOURCE: Los Angeles Times, AUTHOR: James Rainey]
The 4-month-old auction of Tribune Co. appeared to be limping toward today's bidding deadline with several potential buyers on the sidelines and the California family that promoted a sale or breakup unsure whether to respond with an offer. The Chandler family, the previous owner of the Los Angeles Times, is the largest single shareholder of Tribune, the Chicago-based company that owns The Times, KTLA-TV Channel 5, the Chicago Cubs baseball team and various other media properties. The Chandlers had been pondering an offer for the company to protect the value of their 20% stake. But they are currently leaning against bidding, according to a person familiar with a meeting Tuesday of the Chandler Trust board.
http://www.latimes.com/business/printedition/la-fi-chandler17jan17,1,5314470.story?coll=la-headlines-pe-business
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* As Deadline Nears: No Sign of Strong Bid for Tribune
Tribune Co.'s approaching Wednesday night deadline for potential buyers to submit final proposals to acquire the media conglomerate was being watched with interest by Wall Street, but with low expectations that attractive offers were forthcoming.
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