Tribune Sale Update

TWO INVESTOR GROUPS OFFER BIDS FOR TRIBUNE COMPANY
[SOURCE: Associated Press]
Two investor groups have submitted preliminary, nonbinding bids for Tribune Co. One group consists of Fort Worth-based Texas Pacific Group and Boston-based Thomas H. Lee Partners. Another bid by Boston-based Bain Capital was also submitted. Tribune’s holdings include the Chicago Tribune, the Los Angeles Times, the Chicago Cubs, WGN-TV and several other media outlets.
http://www.editorandpublisher.com/eandp/news/article_display.jsp?vnu_con...

* Tribune Quietly Opens Door to Sale of Individual Assets
The Tribune Company said privately yesterday that it would open its auction to bids for its individual assets, not just for the company as a whole, according to people involved in the auction. The shift in strategy makes local ownership of papers like The Los Angeles Times, Newsday and The Hartford Courant, among other properties, more of a possibility than it had initially been.
http://www.nytimes.com/2006/11/02/business/media/02tribune.html?_r=1&ore...

* Tribune draws unexciting bids for firm, seeks offers for units
http://www.latimes.com/business/printedition/la-fi-tribune2nov02,1,24816...