Advertisement
YOU ARE HERE: LAT HomeCollectionsSam Zell
IN THE NEWS

Sam Zell

FEATURED ARTICLES
ENTERTAINMENT
March 7, 2013 | By Carolyn Kellogg
In my book, donating money to support creative writing programs is generally a good thing. But I'm -- hmm, let's call it conflicted -- over a $50-million donation to the University of Michigan's MFA program in creative writing from Helen Zell, wife of Sam Zell. Sam Zell took over Tribune Co. -- its properties include the L.A. Times -- in 2007. In the deal, he saddled Tribune with enormous debt at very little risk to himself; Tribune filed for bankruptcy less than a year later. Here's how the Wall Street Journal explained it recently : "Mr. Zell has labeled the Tribune LBO ' the deal from hell .' The two-step transaction in 2007 piled an additional $8 billion in debt on the publishing and broadcasting operation, which filed for Chapter 11 bankruptcy less than a year later.
ARTICLES BY DATE
BUSINESS
April 3, 2014 | By Roger Vincent
One of Long Beach's trophy skyscrapers, Shoreline Square, has been sold for nearly $102 million to a San Diego real estate investment firm. Parallel Capital Partners Inc. bought the 20-story building at 301 E. Ocean Blvd. from Guggenheim Real Estate of New York and Bantry Holdings of San Marino, according to real estate broker Kevin Shannon of CBRE Group Inc., who represented the sellers. The tower was developed in 1988 along with the adjoining 469-room Westin Long Beach Hotel.
Advertisement
BUSINESS
October 8, 1991 | CARLA LAZZARESCHI, TIMES STAFF WRITER
Sure they're best known as "bottom-fishing investors," "vulture capitalists" or any one of a number of bargain-hunting descriptions that usually accompany mentions of Sam Zell and the Zell/Chilmark investment fund that he shares with partner David Schulte. Even the irreverent and zany Zell likes to refer to himself as a "grave dancer," a description that conjures up images of the short, bearded 49-year-old financier merrily jigging over the remains of some over-leveraged, imploded corporation.
ENTERTAINMENT
March 7, 2013 | By Carolyn Kellogg
In my book, donating money to support creative writing programs is generally a good thing. But I'm -- hmm, let's call it conflicted -- over a $50-million donation to the University of Michigan's MFA program in creative writing from Helen Zell, wife of Sam Zell. Sam Zell took over Tribune Co. -- its properties include the L.A. Times -- in 2007. In the deal, he saddled Tribune with enormous debt at very little risk to himself; Tribune filed for bankruptcy less than a year later. Here's how the Wall Street Journal explained it recently : "Mr. Zell has labeled the Tribune LBO ' the deal from hell .' The two-step transaction in 2007 piled an additional $8 billion in debt on the publishing and broadcasting operation, which filed for Chapter 11 bankruptcy less than a year later.
BUSINESS
May 13, 1993 | TED JOHNSON, SPECIAL TO THE TIMES
Sam Zell, one of the largest holders of private real estate in the nation, delivered his trademark one-liners and some R-rated jabs Wednesday to an audience eager to take his words to heart: Orange County's wary commercial and residential developers. "It's really a pleasure to venture into La-La Land to see what used to be," he told about 350 people gathered at the annual UCI Real Estate Conference, which was at the Four Seasons Hotel in Newport Beach. ". . .
BUSINESS
August 22, 2007 | P.J. Huffstutter and Thomas S. Mulligan, Times Staff Writers
chicago -- Shareholders of Tribune Co., corporate parent of the Los Angeles Times and KTLA-TV Channel 5, on Tuesday overwhelmingly approved the $8.4-billion buyout of the company led by Chicago real estate magnate Sam Zell. Tribune Chairman and Chief Executive Dennis J. FitzSimons announced that 97% of the shares voted by proxy at Tuesday's shareholder meeting here were cast in favor of the deal, which is expected to close in the fourth quarter.
BUSINESS
February 7, 2007 | Michael Oneal and Becky Yerak, Chicago Tribune
Chicago real estate magnate Sam Zell has emerged as a potential bidder for Tribune Co., several people close to the matter said Tuesday. Zell, whose Equity Office Properties Trust is the target of one of the biggest bidding wars in Wall Street history, has approached the Chicago-based media company that owns the Los Angeles Times with a complicated proposal that may include taking an equity stake while adding debt to fund a large dividend for shareholders, these people said.
BUSINESS
December 3, 2009 | Phil Rosenthal
Randy Michaels was named chief executive of Tribune Co., succeeding Sam Zell, who remains chairman of the Chicago media concern that has been operating under Chapter 11 bankruptcy protection for nearly a year. Michaels, 57, joined Tribune's executive ranks when Zell took the company private in a debt-heavy December 2007 transaction, and became its chief operating officer half a year later. With his elevation to chief executive, Michaels also will join the Tribune board of directors.
BUSINESS
June 14, 2007 | Jim Puzzanghera, Times Staff Writer
Chicago financier Sam Zell made the rounds on Capitol Hill this week, drumming up support for a buyout of Tribune Co. in an effort to pressure federal regulators to grant waivers necessary to own both newspapers and TV stations in Los Angeles and four other cities. The lobbying trip came as the public comment period for Tribune's waiver requests ended Monday.
BUSINESS
August 20, 2007 | Thomas S. Mulligan and Michael A. Hiltzik, Times Staff Writers
As Tribune Co. shareholders prepare to convene in Chicago on Tuesday to vote on an $8.4-billion buyout led by investor Sam Zell, the noise in the background is Wall Street traders chirping that the deal might never get done -- at least as proposed. Amid one of the most turbulent summers in years for the stock market, Tribune shares have slid steadily and steeply. The stock closed Friday at $25.67, just a few dimes above a multiyear low and 25% below the $34 offering price.
CALIFORNIA | LOCAL
April 20, 2012 | By Mitchell Landsberg, Los Angeles Times
Jeffrey Chandler, an influential member of the family that built the Los Angeles Times and the last person with the Chandler name to play a significant role in the newspaper's ownership, has died. He was 70. Chandler, who had been a radio station owner and real estate developer in the San Diego area, died Sunday at his home in Rancho Santa Fe after a lengthy battle with prostate cancer, his family announced. Long a maverick who sought to return The Times to its conservative roots, Chandler was one of three representatives of his family on the Tribune Co. board of directors who forced a sale of the company to a group headed by Chicago real estate investor Sam Zell in 2007.
BUSINESS
December 21, 2011
In a strange twist even by the standards of the tangled Tribune Co. bankruptcy, billionaire Sam Zell filed two suits against the company's former shareholders seeking to claw back proceeds from the failed leveraged buyout he led in 2007. The suits, filed in Cook County Circuit Court by Zell affiliate EGI-TRB, piggyback on allegations by Tribune creditors that the debt-laden $8.2-billion buyout was a fraudulent conveyance, meaning it left the owner of the Los Angeles Times, KTLA Channel 5, Chicago Tribune and other media assets insolvent from the start.
BUSINESS
August 20, 2011 | By Jerry Hirsch, Los Angeles Times
A group of former and current Los Angeles Times employees settled a federal lawsuit against GreatBanc Trust, the trustee for Tribune Co.'s employee stock ownership plan, for $32 million. The employees contended that the leveraged buyout that resulted in creation of the ownership plan violated federal pension law. The suit, filed in 2008, also included the newspaper's corporate parent, Tribune Co., and its chairman, Chicago-based real estate mogul Sam Zell, but they were subsequently dismissed from the litigation.
ENTERTAINMENT
June 28, 2011 | By Geneva Overholser, Special to the Los Angeles Times
As longtime readers of this newspaper know all too well, few marriages have failed more spectacularly — or with greater impact — than that of the Tribune and Times Mirror companies. That is a story James O'Shea — an investigative reporter and a former leading editor at the Chicago Tribune and the Los Angeles Times — is well-placed to tell, though his dual role is a weakness as well as a strength of "The Deal From Hell: How Moguls and Wall Street Plundered Great American Newspapers.
BUSINESS
September 13, 2010 | By Michael Oneal
The unsecured creditors committee in Tribune Co.'s bankruptcy case asked a Delaware judge Monday for the right to sue Chicago real estate magnate Sam Zell and other investors and lenders who participated in the company's ill-fated 2007 leveraged buyout. The motion was largely procedural, and the document said the request is not aimed at disrupting a court-ordered mediation in the case, which is scheduled for this month. Lawyers for the committee had signaled at a previous court hearing that they would probably file a new complaint and ask for permission to pursue it because U.S. bankruptcy law would require bringing litigation surrounding the buyout within two years of the company's filing for Chapter 11 protection.
BUSINESS
August 26, 2010 | By Dawn C. Chmielewski, Michael Oneal and Sallie Hofmeister, Los Angeles Times
Former Walt Disney Co. Chief Executive Michael D. Eisner is in discussions that could lead to his return to the media spotlight — as chairman of troubled Tribune Co. The media company's largest creditors are having preliminary conversations with prospective candidates who could operate Tribune once it emerges from bankruptcy protection, according to several people with knowledge of the situation. Eisner, who has been dabbling in the digital world as an investor since stepping down from Disney in 2005, is among the candidates under consideration to replace Chicago real estate magnate Sam Zell as chairman of the reorganized company.
ENTERTAINMENT
June 28, 2011 | By Geneva Overholser, Special to the Los Angeles Times
As longtime readers of this newspaper know all too well, few marriages have failed more spectacularly — or with greater impact — than that of the Tribune and Times Mirror companies. That is a story James O'Shea — an investigative reporter and a former leading editor at the Chicago Tribune and the Los Angeles Times — is well-placed to tell, though his dual role is a weakness as well as a strength of "The Deal From Hell: How Moguls and Wall Street Plundered Great American Newspapers.
CALIFORNIA | LOCAL
April 20, 2012 | By Mitchell Landsberg, Los Angeles Times
Jeffrey Chandler, an influential member of the family that built the Los Angeles Times and the last person with the Chandler name to play a significant role in the newspaper's ownership, has died. He was 70. Chandler, who had been a radio station owner and real estate developer in the San Diego area, died Sunday at his home in Rancho Santa Fe after a lengthy battle with prostate cancer, his family announced. Long a maverick who sought to return The Times to its conservative roots, Chandler was one of three representatives of his family on the Tribune Co. board of directors who forced a sale of the company to a group headed by Chicago real estate investor Sam Zell in 2007.
BUSINESS
April 13, 2010 | By Michael Oneal
A large group of senior creditors in the Tribune Co. bankruptcy case is attacking a settlement proposed last week by the Chicago-based media conglomerate, insisting that Tribune Chairman Sam Zell and the company's board of directors share in the cost of any resolution of the 16-month-old case. The group also decried a proposal in the settlement agreement that calls for as much as 7.5% of the company's equity to be set aside for management compensation programs, diluting the value of other new shareholders in a reorganized company.
BUSINESS
December 3, 2009 | Phil Rosenthal
Randy Michaels was named chief executive of Tribune Co., succeeding Sam Zell, who remains chairman of the Chicago media concern that has been operating under Chapter 11 bankruptcy protection for nearly a year. Michaels, 57, joined Tribune's executive ranks when Zell took the company private in a debt-heavy December 2007 transaction, and became its chief operating officer half a year later. With his elevation to chief executive, Michaels also will join the Tribune board of directors.
Los Angeles Times Articles
|