Insiders confirm that billionaire businessman Eli Broad and supermarket magnate Ron Burkle have teamed up to submit a bid for the Tribune Co. And at the same time, another mogul--David Geffen--remains
interested in making his own bid. Details of the offer by the two businessmen and their companies were not disclosed, but the
Los Angeles Times reports today that the bid was "competitive" with
at least four offers made for Tribune last week, according to a person who was familiar with the proposal. Broad and Burkle had been expected to bid for the
Los Angeles Times, the Tribune's
largest property. The joint bid for the entire company came as a surprise. Broad declines comment.
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