Zell Extends Latest Deadline For Cubs Bids (Dinosaur Media DeathWatch™)

The Wall Street Journal ^ | November 15, 2008 | Matthew Futterman

[abb]

Sam Zell's Tribune Co. has backed off its demand that a new round of bids for the Chicago Cubs arrive before Thanksgiving.

Just days ago, finalists to purchase the storied baseball franchise were told to deliver revised bids and financing plans by Nov. 27. But with instability in the credit markets making the process more arduous, groups vying for the team learned late this week the deadline is now considered soft, according to two people involved with the sale.

snip

The shift is the latest setback for a sales process that has lasted since Mr. Zell reached a deal to acquire the media conglomerate in April 2007, when the economy and hunger for trophy sports franchises were significantly stronger.

snip

Mr. Zell's recent offer to keep as much as 50% of the team for an undetermined period would make buying the Cubs more affordable. But Tribune's worsening debt problems have heightened the risk of a potential leveraged partnership with the distressed company.

Some $450 million in Tribune bonds due in 2010 are now trading at 36 cents on the dollar, down from 81 cents a year ago. This week Standard & Poor's downgraded the company's corporate credit rating to "CCC" from "B-minus."

[uncbob]

All true but I like to be able to read in a chair while on a train etc —don’t have to worry about electricity going out or internet down

[Toddsterpatriot]

Wait til next year. LOL!

[CRBDeuce]

masses still get their brain washing from the MSM

PLUS Hollywood, PLUS Academe (grade school, middle school, HS and college), PLUS Unions, PLUS AARP rubes, PLUS, PLUS, PLUS...the MSM's job now is just to protect and apologize whenever the agenda gets threatened.

[j-damn]

What’re you talking about? Since the Trib bought the team they have made the playoffs six times—three since 2003. The Wrigley’s were far worse owners.

[Milhous]

One of my clients uses Fujitsus capable of detaching from their keyboard base to become portable tablets.

See my homepage for a description of using a Palm to access news. My Palm's battery lasts for hours and it easily slips into my front pocket with plenty of room left over for an optional collapsible keyboard to facilitate taking copious notes in the field.

It works great to productively pass time while standing in lines or waiting. As easy to use, sans keyboard, as a paperback. Even in the "throne room." It also features a program named eReader that converts it into an electronic paperback for those increasingly rare circumstances that lack WiFi access to the Inet. Adobe also offers a free PDF reader.

My Palm proves so versatile as to preclude any possibility of me ever converging it with my cell phone into a single device. OTOH many other people simply use their cell phone to surf for news.

Thanks again abb for all your pings.

[abb]

http://www.alleyinsider.com/2008/11/sumner-i-m-not-broke
Sumner: I’m Not Broke

[MrEdd]

The U810 does fold into a tablet

Battery is good for about five and a half hours. It will let you read anything you can read on any other PC. Screen is 5.6 inches diagonal.