January 15, 2007 |
The Chandler family fired its first shot last summer. The onetime owner of the Los Angeles Times lashed out at Tribune Co.'s plan to take on debt to buy back $2 billion of its stock and blamed the Chicago company's "disastrous" decision-making for its sinking stock price. Those protests forced Tribune into play. But seven months later, the family that is Tribune's largest shareholder is still waiting for satisfaction.
January 18, 2007 |
The Chandler family, which owned the Los Angeles Times for more than a century, and a partnership of local billionaires Eli Broad and Ron Burkle made competing offers Wednesday for Chicago-based media giant Tribune Co. After a four-month auction process, the bids pit two powerful Southern California interests in a battle for the company that owns The Times, KTLA-TV Channel 5 and the Chicago Cubs baseball team.
June 26, 2006 |
Tribune Co. is likely to succeed today in its effort to buy back as much as 25% of its stock, gaining an interim victory over boardroom critics who recently called for a breakup of the Chicago-based owner of the Los Angeles Times, KTLA-TV Channel 5, the Chicago Tribune, the Chicago Cubs baseball team and other properties. Yet the dissident Chandler family of California, Tribune's second-largest shareholder, is not expected to give up its fight.
June 15, 2006 |
The former owners of the Los Angeles Times escalated their attack on the newspaper's parent company Wednesday, with a breakup or sale of Tribune Co. a possible outcome. In a regulatory filing, representatives of the Chandler family, which holds more than 12% of Tribune, called for radical changes at the Chicago-based company after what they characterized as "disastrous" decisions and a nearly 40% decline in the stock price in the last two years.
February 1, 2007 |
Tribune Co.'s largest shareholder, Chandler Trusts, has extended the deadline on an offer for the media conglomerate that had been set to expire Wednesday, a person close to the family said. The move gives the company's board of directors more time to consider the highest-valued bid for its assets to date during a four-month review process. The Chandlers, whose complaints last year about Tribune's sagging stock price prompted the company to solicit outside proposals, made an estimated $7.
June 7, 2007 |
With a four-page regulatory footnote to a history touching three centuries, the Chandlers have bowed out. The Southern California family that has been associated with the Los Angeles Times for 120 years severed its ties by selling 20.4 million shares of Tribune Co. stock to Wall Street's Goldman Sachs & Co., the family said in a regulatory filing Wednesday. The stock was sold for $31.19 a share, or $634.8 million, in a transaction that closes today.
July 20, 1990 |
There is nothing as crass as a "for sale" sign on two of the largest undeveloped parcels on the Southern California coast. But the two Dana Point properties are for sale nevertheless, and people in this quiet Orange County beach town have been wondering for months what will happen to the land. Now they have a few clues.
March 22, 2000 |
The merger agreement between Times Mirror and Tribune companies was accomplished only after a dramatic board-level battle pitting the Chandler family against non-family directors of Times Mirror, according to a document made public Tuesday. The battle was waged over the non-family directors' belief that the Chandlers had made a deal with Tribune that benefited themselves at the expense of other shareholders.
March 15, 2000 |
The proposed takeover of Times Mirror Co. by Tribune Co. is more than a story of the relinquishing of a Los Angeles family heirloom to a hard-charging corporation from the Midwest. At its core is something more personal and fundamental: a vehement, at times bitter, disagreement over the strategic direction of the company between two strong-willed executives equally confident that his way was best.