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The Guardian - UK
The Guardian - UK
Business
Roy Greenslade

Bid tabled for US media giant Tribune

It looks as though a formal bid has now been made for the entire US media giant, the Tribune Company. According to several reports, including one in Tribune's leading newspaper, the Los Angeles Times, the bid has been submitted by billionaire philanthropist Eli Broad and prominent investor Ron Burkle. Details about the offer and the price are not known. By bidding for the whole company, rather than just the LA Times, they are clearly giving themselves an edge over David Geffen, the entertainment mogul who has expressed interest in acquiring only the paper. Broad made his initial fortune in the housebuilding industry and Burkle, once one of America's top supermarket operators, now runs an investment firm. (Via Reuters)

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