Tribune Buys Back 126 Million Shares

  • April 26, 2007
Tribune Co. is in the process of repurchasing up to 126 million shares of its common stock for $34 per share, which will return $4.3 billion of capital to shareholders. The offer is part of a merger agreement that accompanies Sam Zell's bid for the media company. The offer expires on May 24. It is the first step to taking the public company private.

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