01-22-2009, 02:04 AM
<!--quoteo-->QUOTE <!--quotec-->Tribune Co. executives have chosen a favorite among three bids for the Chicago Cubs and have given that recommendation to the unsecured creditors committee in the company's bankruptcy case, a source close to the situation said Wednesday.
Tribune Co. and its investment banker, JPMorgan Chase & Co., removed the names from the bids, referring to them by number. The committee will review the offers and other Tribune Co.-related business at a regularly scheduled meeting Thursday.
The creditors have no official veto power over the sale of the Cubs, Wrigley Field and associated assets. But sources said Tribune Co. apparently wants to get the committee's consent in order to keep the case friendly.
It wasn't certain if the committee would return its own verdict Thursday, but its blessing may be the final hurdle to picking a finalist.<!--QuoteEnd--><!--QuoteEEnd-->
Tribune Co. and its investment banker, JPMorgan Chase & Co., removed the names from the bids, referring to them by number. The committee will review the offers and other Tribune Co.-related business at a regularly scheduled meeting Thursday.
The creditors have no official veto power over the sale of the Cubs, Wrigley Field and associated assets. But sources said Tribune Co. apparently wants to get the committee's consent in order to keep the case friendly.
It wasn't certain if the committee would return its own verdict Thursday, but its blessing may be the final hurdle to picking a finalist.<!--QuoteEnd--><!--QuoteEEnd-->
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