Friday, January 16, 2009

Tribune to Pick Winning Bid for Cubs by Mid-Week

After a nearly two-year process, Sam Zell and Tribune Co. plan to name a winning bidder for the Chicago Cubs by the middle of the coming week, according to two people involved with the bidding.

Tribune, which last month filed for protection from creditors under Chapter 11 of the U.S. Bankruptcy Code, has a board meeting scheduled for early in the coming week where executives handling the sale of the baseball franchise plan to review the competing bids and recommend a winning party.

The three finalists are the Ricketts family, founders of TD Ameritrade Holding Corp.; a group led by New York-based private-equity investors Marc Utay and Leo Hindery; and Chicago real-estate investor Hersh Klaff. [Click for MORE] Sphere: Related Content

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