Last updated: February 21, 2008 - 5:41am
MURDOCH ROLE IN TRIBUNE BID DEBATED
[SOURCE: Associated Press]
News Corp. founder Rupert Murdoch's potential involvement in a joint bid for Tribune Co. by the Chandler family doesn't alter the fact that no acceptable takeover offer has yet surfaced after months of the company soliciting proposals. Murdoch's interest in a minority stake in Tribune emerged after the media conglomerate received the largest offer to date for its assets, an estimated $7.6 billion proposal by the Chandlers to buy the company and spin off its broadcast division to shareholders. The goal for News Corp. would be to reduce costs on the business side of the New York Post, a money-losing but prominent tabloid newspaper, by combining some back-office functions such as production and delivery with Tribune's Newsday newspaper on neighboring Long Island.
See also --
* Rupert's Way
[SOURCE: Forbes.com, AUTHOR: James Brady]
[Commentary] "[I]f you work for Newsday or the Tribune in Chicago or the Los Angeles Times and you hear that Murdoch is coming, stand by. The man isn't a packaged goods CEO from the "B" School whose first priority is the bottom line and staff cuts. Murdoch will make changes, drive people nuts, start rewriting heads, work 19-hour days and put his brand on the damned paper. You may dislike his politics, love him or hate him, but you'll be working for a professional newspaperman whose veins run with printers' ink." http://www.forbes.com/home/columnists/2007/01/31/james-brady-on-media-rupert-oped-cx_jb_0201brady.html