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MediaBuyerPlanner: The Tribune Co. has given presentations to seven private equity firms, as well as to rival media giant Gannett Co. and to representatives for billionaire businessman Eli Broad and Ron Burkle, according to sources.
Representatives from the Chandler family, Tribune’s largest shareholder, attended at least one of the presentations and appears to be working with one of the private-equity firms that have shown interest in the company, writes Chicago Business.
Tribune chairman and CEO Denis FitzSimons said, in a note to employees on Wednesday, that while the company is “stable and financially strong,” and will generate more than $1.3 billion in cash in 2006, it has faced challenges in trying to negotiate a deal.
The firms interested in pursuing a possible purchase of Tribune Co. include: Boston-based Bain Capital, Chicago’s Madison Dearborn Partners, New York-based Apollo Management, Providence Equity Partners of Rhode Island, the Carlyle Group of Washington, D.C. and an alliance of Texas Pacific Group and Thomas H. Lee Partners.
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