The Chicago two

There’s no easy way out for Tribune’s shareholders. The $7.3bn publisher of the Los Angeles Times already tried to drum up interest from potential buyers. But the auction failed. The only credible bid came from the Chandler family, the 20% shareholder. And it’s not good enough. Yet that hasn’t deterred the Chandlers from pressing their case. Indeed, the family’s insistence that Tribune accepts their proposal to buy out the newspapers and spin off its broadcasting arm borders on bullying. The Cha...