The embattled Tribune Co., which has put its 11 newspapers and 25 television stations up for sale, is not ready to consider bids for individual properties, the company said in an e-mail exchange with a Baltimore investor group, the Washington Post reports.
Ted Venetoulis, a businessman and former local politician, is leading a consortium of prominent Baltimoreans who want to buy the Sun, if Tribune decides to break up the company and sell it piece by piece.
Last week, Venetoulis e-mailed Chicago-based Tribune asking if his group could look at the Sun’s financials and begin performing due diligence in order to craft a bid for the paper.
Venetoulis said his group is assembling a management team and wants to examine “operations, the printing facilities, the union contracts, what the Internet is doing, the community papers and how they relate, all financial data, the history of ad sales, whether there’s any revenue coming from the Web.”
