The Tribune Co. and the Chandler family have agreed to stop embarrassing one another in public. It’s nice that they can agree on something.
The Chicago Tribune writes: “They may not agree on a plan. They may not even like each other. But each has more to lose than gain from a public airing of grievances and the damage it does, especially on Wall Street, where Tribune’s stock languishes.”
The two sides are back at the bargaining table, but the WSJ writes that the Chandlers lost a lot of leverage. The LAT family’s bitching that the Tribune be broken up or sold backfired on them and “galvanized the independent directors against them.”
The two have been together for six years now — an anniversary for which, we’re told, you’re supposed to give liquid.