Private Equity Groups form for Tribune Bid

PRIVATE EQUITY GROUPS FORM FOR TRIBUNE BID
[SOURCE: Reuters]
Several major private-equity firms are considering joining together to bid for media company Tribune. One group consists of Madison Dearborn Partners, Providence Equity Partners and Apollo Management. A second includes Thomas H. Lee Partners and Texas Pacific Group. The Carlyle Group also has eyed Tribune, but it is unclear whether it will participate on its own or jump into a different bidding camp. Tribune is trying to sell itself amid weak financial results, an uncertain future and a divided board of directors. Last week, the company lower-than-expected third-quarter revenue, joining other newspaper publishers in reporting weak advertising sales.
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