Tribune looks at PE group in sale derby
Tribune Co. has gone back to firms that looked at its operations but didn't submit a bid to see whether they would be willing to make an offer because the media company wasn't excited by three bids it received, the Wall Street Journal reported Thursday. One of the parties Tribune contacted again was a private-equity consortium made up of Madison Dearborn Partners, Providence Equity Partners and Apollo Advisors, but without success, it said. Tribune appears to favor an offer from billionaires Eli Broad and Ronald Burkle but likely will ask them for a sweetened proposal, the Journal said. Tribune officials couldn't be reached for comment. A special committee of the company's board is scheduled to meet again this weekend.