Chicago Cubs Baseball Team

Tribune Co. said Friday that it signed an agreement to sell the Chicago Cubs to the Ricketts family. The family is paying about $800 million to acquire a 95% interest in the team, Wrigley Field and Tribune Co.'s 25% stake in Comcast SportsNet Chicago, which broadcasts many Cubs games on cable television. Tribune will retain a 5% ownership stake in the joint venture. The announcement is somewhat anticlimactic because in January Tribune had selected the Ricketts family as the winner of a protracted auction for the franchise.