Tribune Co. purchase closes.Real estate billionaire Sam Zell Samuel "Sam" Zell (born September 1941) is a U.S.-born billionaire and real estate entrepreneur. He is co-founder and Chairman of Equity Group Investments, a private investment firm. became the new owner of Tribune Co., closing on the $8.2 billion acquisition of the media conglomerate. Tribune owns the Los Angeles Times Los Angeles Times Morning daily newspaper. Established in 1881, it was purchased and incorporated in 1884 by Harrison Gray Otis (1837–1917) under The Times-Mirror Co. (the hyphen was later dropped from the name). , news station KTLA KTLA KCBS TV in Los Angeles and 30 other TV stations and newspapers coast to coast. There are no plans for Zell to sell any of the media business units, the Times reported. The Chicago Cubs baseball team and Wrigley Field are for sale. Zell said he plans a broad shakeup shake·up n. A thorough, often drastic reorganization, as of the personnel in a business or government. Noun 1. shakeup of the now-private company and shift more power and control to the local business units, the Times reported. |
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