Tribune Selects Finalist in Chicago Cubs Sale

The final bidder for the sale of the Chicago Cubs, Wrigley Field, and a 25 percent stake in Comcast SportsNet Chicago has been selected by the Tribune Co. according to the Chicago Tribune. The details of the final selection, along with details from the other three bidders has been passed along to a committee for the unsecured creditors of Tribune, with the bidders names removed and only a number associated to the bids, according to the report. While the creditors hold no ultimate veto power in the selection process, Tribune “wants to get the committee's consent in order to keep the case friendly.” It is uncertain if the committee will bless the deal in a regularly scheduled meeting on Thursday, but if so, it will most likely lock in the finalist. While the selection of the finalist is a key step in the completion of the sale process, it is by no means done. The finalist will move into an exclusive negotiating window with which to complete the sale agreement. From that point, ...