Skip to: Content
Skip to: Site Navigation
Skip to: Search

September 7, 2008 6:48:27 PM CDT

Learn about Newser Points »

« Back to the grid | Next story »

For Sale: Chicago Landmark

Posted Jun 25, 08 9:44 PM CDT in US,  Business 

(Newser) – Saddled by debt from his acquisition of the Tribune Company media empire, billionaire Sam Zell may sell off the iconic Chicago headquarters of the Tribune newspaper, he said yesterday. The 83-year-old Tribune Tower could fetch $250 million, analysts told the Sun-Times, with Zell likely needing to assure a new owner that the newspaper would continue to occupy the building on a long-term lease to fetch maximum value.

Source Chicago Sun-Times

0 comments | Print E-mail | Digg Seed this on Newsvine Add this link to Del.icio.us StumbleUpon

Related Newser Stories

  • LA Times Insider Launches Anti-Zell Blog

    Jul 21, 08 8:14 AM CDT
    LA Times Insider Launches Anti-Zell Blog Heads continue to roll at the Tribune Company, but one staffer is aiming to prove the pen is mightier than Sam Zell's ax, reports the New York Times, with new blog TellZell.com. The site is airing the gripes of Tribune's disgruntled journalists, and is finding plenty of fodder—from top-level resignations at the LA Times to publishing the unreleased list of employees facing layoffs. More »

  • LA Times Publisher Exits

    Jul 15, 08 2:08 AM CDT
    LA Times Publisher Exits A bad day for the Tribune Company got even worse yesterday with the resignation of Los Angeles Times publisher David Hiller, Reuters reports. Hiller is leaving after less than 2 years with the paper as Tribune owner Sam Zell prepares to cut jobs again and reduce pages at his papers. The editor of the Chicago Tribune, another of Zell's media properties, quit earlier yesterday. More »

  • Chicago Tribune Editor Resigns Amid Cutbacks

    Jul 14, 08 3:58 PM CDT
    Chicago Tribune Editor Resigns Amid Cutbacks Chicago Tribune editor Ann Marie Lipinski handed in her resignation today after 7 years in the top post at the Tribune Company's flagship paper. Lipinski's departure comes a week after the 161-year-old newspaper told its staff it would eliminate about 80 newsroom jobs amid a broad effort to cut costs as advertising and circulation revenues decline at its newspapers nationwide. More »

  • Zell's Tribune Co. Heads Toward Default on Loans

    Jun 19, 08 5:43 PM CDT
    Zell's Tribune Co. Heads Toward Default on Loans As the newspaper industry continues its accelerating skid into the red, even billionaire Sam Zell's Tribune Company is on track to default on its massive loans as soon as the end of the year, an analyst predicts. The parent of the Chicago Tribune and Los Angeles Times is far from alone. Bloomberg takes a look at the industry as it struggles to overcome historic lows in advertising revenue. More »

  • Zell Deserves Jail for 'Dumbed Down' Papers

    Jun 11, 08 12:35 PM CDT
    Zell Deserves Jail for 'Dumbed Down' Papers Sam Zell isn't just diminishing the great newspapers he bought in acquiring the Tribune Company, Harold Meyerson writes in the Washington Post—he's doing a grave disservice to cities that have supported the likes of the Los Angeles Times. "Zell has taken bean counting to a whole new level," leaving the paper "dumbed down" as he trims news coverage to equal space devoted to advertising. More »

Billionaire Sam Zell listens to a question on his purchase of the Tribune Company during a news conference at the Tribune Tower in Chicago on Dec. 20, 2007.   (AP Photo)
New owner Sam Zell says he could sell the iconic Tribune Tower on Chicago's Michigan Ave.   (AP Photo)
Tribune Company said yesterday it's exploring a possible sale of its iconic headquarters on Chicago's Magnificent Mile while also eyeing ways of "maximizing the value" of buildings in Los Angeles.   (AP Photo)
The Wrigley Building and Tribune Tower, right, in Chicago are shown in this undated photo.   (KRT Photos)
« Prev« Prev | Next »Next » Slideshow
Our editors also recommend:

Threads (1 of 4)

Tags

Chicago  • Tribune Company  • Sam Zell  • Chicago Tribune


Loading...

Premium Articles from HighBeam

Find more articles like this

Today's Most Popular


Other Business Stories

What is Newser?

2008 Codie Finalist

Newser gives you more news in less time. We search for the best and most important stories all over the web, read them for you, and deliver concise and sharp summaries—along with links to the full text. Newser provides a way to stay on top of an ever-expanding horizon of news and opinion—politics, sports, business, trends, technology, personalities, crimes, and controversies. Newser keeps you not just better informed, but, with our signature graphic interface and smart condensed format, more enjoyably informed.

Learn more »