The inside story here is how desperately Sam Zell (owner of Tribune Co. - LA Times, etc) needs to raise cash to meet an upcoming mortgage payment. He HAS to sell the Cubs to raise cash.
Otherwise, Tribune Co. - and it’s newspapers - just fade away...
http://gannettblog.blogspot.com/2008/11/for-editors-new-software-tool-and.html
For editors, new software tool — and Connell, too?
http://www.ft.com/cms/s/0/92600a68-b565-11dd-ab71-0000779fd18c.html
Independent to shed quarter of journalists
http://www.mediaweek.com/mw/content_display/news/magazines-newspapers/e3i39f08ab5c0c81e8df0aaf6a41579701e
Forbes Cuts 43 in Sales and Marketing Mash Up
http://www.nypost.com/seven/11182008/business/layoffs_at_tv_guide__forbes_139301.htm
LAYOFFS AT TV GUIDE, FORBES
http://www.latimes.com/business/la-fi-univision18-2008nov18,0,7094033.story
Univision predicts lean times ahead
The Spanish-language broadcaster posts a $2.9-billion third-quarter loss after writing down assets.
Right, and if Cuban should somehow offer, let’s say, $100 million more than the other bidders, how are they going to deny Zell the right to sell him the team?
Answer is, they probably can’t and won’t.
But, I doubt now Cuban can be a serious bidder considering his legal woes.