Not so fast.

Not So Fast: Any sale of the Tribune Co. or its major assets, including the Los Angeles Times, will not take place until next year. Advisors to the company and an independent special committee reviewing bids for the company and its assets have recommended the review process be extended into the first quarter of 2007 when a final recommendation to the board is expected. "We are committed to a complete review process that will yield maximum value for all Tribune shareholders," said William A. Osborn, the lead director and chairman of the board's independent special committee. The announcement came on the same day that a group of investors, led by Baltimore businessman Ted Venetoulis, asked to take a look at the Baltimore Sun's books in order to formulate an offer for the paper. The Tribune responded by saying the company was not yet ready to sell individual core assets. Locally, Los Angeles billionaires Eli Broad, Ron Burkle and David Geffen have expressed interest in buying the Los Angeles Times and former Arizona Diamondbacks owner Jerry Colangelo has expressed interest in the Tribune's Chicago Cubs baseball franchise.