Zell cites weak revenues at Tribune, may sell more assets

Tribune Company CEO Sam Zell says he's considering selling some of the media conglomerate's assets because of worse-than-expected revenue.

On a conference call Thursday, Zell says the "significant erosion" in revenue has prompted him to reconsider his plan to keep the newly private company intact.

He didn't specify in the call with analysts and investors which assets he has in mind besides the Chicago Cubs and Wrigley Field. Reports indicate he's considering selling one of the company's biggest properties, Long Island-based newspaper Newsday.

Zell says meaningful discussions are still under way to try to sell Wrigley to the Illinois Sports Facilities Authority.