Tribune Company (NYSE:TRB) said that it plans to keep its remaining newspapers after announcing the sale of The Advocate and the Greenwich Time to Cannett Co. earlier this week. The company first announced that it was considering the sale of some or all of its company last September, under pressure from Chandler Trusts. Since then, it received a number of offers from the Carlyle Group, Eli Broad and Bon Burkle among others but turned each one of them down. Recently, the special committee assigned with exploring strategic alternatives was reportedly leaning towards a restructuring that would involve a spin-off of the company's television stations and a large special dividend payout with the proceeds. The committee was also rumored to be looking at a buyout bid for the entire company from billionaire real estate mogul Sam Zell. Regardless, Tribune is definitely a stock
worth watching as they explore options for the company.
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