It’s official: Zell takes over the Tribune
The Sam Zell era officially began this afternoon with the closure of the $8.2 billion deal to take the Tribune Co. private. Meet the new board members
Randy Michaels returns to Chicago
Robert Feder in the Sun-Times today has a rather detailed look at the career of Randy Michaels, the guy who saved WFLZ-FM in Tampa by creating “The Power Pig” – and his most infamous radio stunt right here in Chicago – Using “hell” as a marketing slogan in 1991 that practically destroyed former contemporary-hit radio station WYTZ-FM (Z95). Michaels is […]
FitzSimons steps down
Dennis FitzSimons is out as President, Chairman, and Chief Executive of the Tribune Co. in wake of the $8.2 billion sale of the company to Sam Zell, who will become a board chairman.
Tribune Entertainment, R.I.P. (1982-2007)
Company to live on as ad-sales operation only The company that launched its first syndicated show in 1982 with At the Movies featuring Gene Siskel and Roger Ebert, has closed its doors. Tribune Entertainment’s syndication division shuttered a few days ago, ending its station sales (distribution) operations, with three executives from its Chicago office laid off. However, its advertising sales […]
Copps against Tribune, XM/Sirius deals
Democratic FCC commissioner Michael Copps has voiced his opposition against two pending media deals: Sam Zell’s acquisition of Tribune and the XM/Sirius merger. Tribune would need a waiver from the FCC so the deal can go through – and that Tribune can keep it radio/TV/newspaper combo intact in Chicago.
Tribune sale sunk?
It looks like Wall Street isn’t high on the sale of the Tribune Co. to Sam Zell, given Tribune’s sinking sale price. And yours truly is having second thoughts about the sale, which would keep all the properties (except the Cubs) together, even though this blog voiced support for the sale and to keep the media properties intact – but […]
Zell looks for help from Congress
Sam Zell, who is buying the Tribune Co., met with several Democratic leaders on Tuesday, including Senator Dick Durbin (D-Ill.), and expressed his concern that federal regulators are moving too slowly in deciding whether or not Tribune can own the same media in the same market, including Chicago. Tribune needs FCC waivers to keep the properties it has in five […]
Groups petition to stop Tribune
Several media activist groups have petitioned the FCC to stop the sale of the Tribune Co. to billionaire venture capitalist Sam Zell. The groups in question are the United Church of Christ and the Media Alliance, as well as the Media Access Project. They are calling for the FCC to reject the deal because the company would own a newspaper […]
Illinois lawmakers support Zell
Media activists suffered a huge blow recently as it has been learned that most Illinois politicians won’t be on their side in the battle to divest Tribune’s properties in Chicago. A letter signed by 14 Illinois lawmakers – on both sides of the political aisle – urged the FCC to waive restrictions on new Trib owner Sam Zell, who needs […]
Sam Zell wins Tribune auction: Cubs to be sold (Updated)
Chicago billionaire Sam Zell has won the auction for control of the Tribune Co., paying $13 billion to beat out two Los Angeles-area billionaires with a winning bid of $34 a share. Zell is also supporting the new investment with a $315 million influx of cash. In addition, Mr. Zell will became a board member, and will become chairman once […]
Tribune Watch: Board voting on Zell’s offer
The Tribune’s board of directors are voting tonight whether to accept a sweetened offer from Sam Zell, the Chicago billionaire who is one of two bidders for the company.
Tribune Watch: No word on sale of Tribune Co.
The bids are due today for the Tribune Co., but there is still no word on who will end up with the media conglomerate – Chicago billionaire Sam Zell, who’s offering $33 a share, or the two L.A. billionaires, who’s offering $34 a share. There is a chance that the deadline could be extended, and at this late hour, it […]
Tribune Watch: Zell getting close to deal
If all goes well, the ownership of the Tribune Co. will end up in the hands of billionaire Sam Zell with an $8 billion dollar offer. If it goes through, he plans to take the company private, and plans to keep it intact.