McCormick Tribune Foundation reviewing Tribune stake

MCCORMICK TRIBUNE FOUNDATION REVIEWING TRIBUNE STAKE
[SOURCE: Reuters]
McCormick Tribune Foundation, one of the largest shareholders in media group Tribune Co., said in a regulatory filing on Thursday it is evaluating its investment in light of Tribune's strategic assessment. The foundation said in a filing with the U.S. Securities and Exchange Commission that it has established an advisory committee, hired the Blackstone Group as its financial adviser and signed an agreement to obtain confidential Tribune information to conduct its evaluation. The foundation owns an 11.7 percent stake, or about 28 million common shares, in Tribune stock. It said it reserves the right to take actions such as buying or selling Tribune stock in the open market, in block trades and in privately negotiated transactions, and pursuing alternative transactions.
http://biz.yahoo.com/rb/070104/tribune_mccormick.html?.v=1

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