Tribune Foundation Reconsiders Investments
January 4, 2007 | Read Time: 1 minute
The McCormick Tribune Foundation, in Chicago, said it is evaluating its investment in the Tribune media company in light of a review that could result in the company’s sale or the spin-off of various divisions, reports Reuters.
The foundation currently owns an 11.7 percent stake, or about 28 million common shares, in Tribune stock.
In a filing with the U.S. Securities and Exchange Commission, the foundation said that it has established an advisory committee and has hired the Blackstone Group as its financial adviser. The foundation has also signed an agreement to obtain confidential Tribune information to conduct its evaluation.
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