Ricketts' Cubs Deal Unraveling?
Tribune Co. is in talks with another potential buyer
By PEGGY CASSIDY
Updated 12:36 PM CST, Fri, Jun 19, 2009
Buy the Cubs. Somebody, please.
It looks like the deal Sam Zell's Tribune Company appeared to have with the Ricketts family may be unraveling.
Zell is no longer negotiating with the Ricketts, the Chicago Tribune reported today, siting a source as saying that the company has opened discussions with another potential buyer.
Re-entering the arena is former Chicago Marc Utay and a group of New York investors. Utay's earlier bid for the Cubs was trumped by the Ricketts, according to the paper.
It's nothing less than a curve ball tossed at the Ricketts.
Insiders say that the Pickett's $900 million deal has stalled, with the two parties stuck on the issue of "broadcast rights, which Tribune Co. owns through its WGN subsidiaries and its 25% percent interest in Comcast SportsNet Chicago."
"I think it's likely that Zell is trying to use the threat to push Ricketts to the finish line, with the possible bonus that Utay comes up with something," the Tribune's source said.
First Published: Jun 19, 2009 6:41 AM CST
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