A group of well-heeled local businessmen recently affirmed their interest in buying the
Los Angeles Times, that paper reports. Investor Ron Burkle, former Major League Baseball Commissioner
Peter Ueberroth, and philanthropist Eli Broad have all said they would like to buy The
Times or see it in local hands. "The
L.A. Times is a world-class brand," says Ueberroth. "We're
always attracted to quality brands." While the paper could go under the hammer for $1 billion, Publisher Jeff Johnson said it is not for sale. Still, a rift between the paper's owner--Tribune Co.--and
its second-largest shareholder, the Chandler family of Los Angeles, has the potential to put the
Times in play. Of course, small print in the $8-billion agreement by the Chandlers in 2000 to
sell the paper's parent--Times Mirror Co.--to Tribune gives the family the right to veto a sale of the flagship newspaper.
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