Media Play: L.A.-Area Tycoons Offer Bid For Tribune Co.

Billionaire philanthropist Eli Broad and Penguins co-Owner Ron Burkle “submitted an offer for Chicago-based Tribune Co.,” which owns the Cubs, the L.A. Times, KTLA-CW and several other newspapers and TV stations, according to Rainey & Mulligan of the L.A. TIMES. A source said the bid was “‘competitive’ with at least four offers made for Tribune last week” (L.A. TIMES, 11/9). Also in L.A., Christensen, Abcarian & Reynolds note some L.A. business execs “wonder privately whether [Broad] is serious about buying Tribune.” Among other things, “they cite his prominent mention as a likely buyer of the [Dodgers] when News Corp. put the team up for sale several years ago. Some questioned whether he was serious when he made an 11th-hour bid to buy the team if ... Frank McCourt did not make good on his offer” (L.A. TIMES, 11/9).