Tribune Co. completes deal to go private

0 Comments | AFP, December, 2007

CHICAGO (AFP) — Private equity investors Thursday completed their 13-billion-dollar acquisition of Tribune Co., a media group that owns The Los Angeles Times among other assets, the company said.

Real estate tycoon Sam Zell, who financed the transaction, assumed the roles of chairman of the board and chief executive officer, effective immediately, the company said in a statement.

The new eight-member board will include Jeffrey Berg, chairman and chief executive officer of International Creative Management; Brian Greenspun, president and editor of the Las Vegas Sun; William Pate, chief investment officer of Equity Group Investments; and Maggie Wilderotter, chairman and chief executive officer of Citizens Communications.

The Chicago-based company has been...