Zell's Little Hell
Sam Zell has a few hurdles to clear before he can buy the Tribune Co., even though shareholders are set to vote on his $8.2 billion proposal in late August.
According to the LAT:
Washington regulators must agree to transfer the licenses of Tribune’s 23 TV stations and one radio station to the new company, led by real estate mogul Sam Zell, and to issue waivers allowing it to hold on to TV stations in Los Angeles and four other cities where Tribune also owns newspapers, including The Times.
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