WRIGLEY FIELD NAMING RIGHTS MIGHT BE SOLD

Chicago billionaire Sam Zell said in an interview on CNBC that he will not hesitate to sell the naming rights for Wrigley Field, home of the Chicago Cubs.

From AP via The Chicago Tribune:

Zell said he plans to sell the Cubs and Wrigley separately and in his own time frame. He also disclosed that Major League Baseball has approved "four or six" potential ownership groups and that any one of them would be fine.

The sale of the team has been delayed by Zell's plan to sell the team and the stadium separately, and to have a state agency acquire and renovate Wrigley

CHICAGO TRIBUNE SOLD TO SAM ZELL

From ChicagoTribune.com:

After an epic corporate drama, Chicago's Tribune Co. sold itself in a deal that puts the 159-year-old media conglomerate in the hands of the city's most iconoclastic entrepreneur, setting up a high-stakes bet that a pillar of the nation's old-media establishment can tug itself into the digital future without toppling over.

Early Monday, following a weekend of heated negotiations, the company's board accepted a revised $34-dollar-a-share proposal from Chicago real estate magnate Sam Zell to take the company private in a complex, $8.2 billion deal structured around an employee stock ownership plan.

In addition, the Tribune said it intends to sell the Chicago Cubs and its 25 percent stake in local sports cable channel Comcast SportsNet Chicago.