Tribune said to rule out bid to take company private

02/26/2007 | Wall Street Journal (free content), The

The Tribune Co. board seems to be leaning toward a "self-help" restructuring plan that could include spinning off its 23 TV stations and paying a large dividend to shareholders, as well as buying out its biggest stockholder, the Chandler family, the driving force behind putting the company up for sale. This latest scenario, following Saturday's board meeting with advisers, also seems to foreclose the possibility of Chicago real-estate tycoon Sam Zell taking the company private, because the structure of the deal would be too slow for the board's timetable.

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Wall Street Journal (free content), The

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