The pursuit of the Tribune Company (NYSE:TRB) is no secret. But, is anyone willing to write a check to buy the firm? According to CNBC's M&A maestro, David Faber, it looks like the answer is "no."
Apparently there is no interest from private equity firms, such as Apollo Management, Providence Equity Partners, and Madison Dearborn Partners. No doubt, these firms had months to crunch the numbers. What's more, they have tremendous experience in the media industry. It looks like the price is too high (there may also be adverse tax consequences). Besides, the industry outlook for newspapers looks particularly bleak for the long-term.
However, Tribune may still find a buyer – it would likely be from a billionaire who wants a trophy but not necessarily an attractive business.
Tom Taulli is the author of various books, including the Complete M&A Handbook and the EDGAR-Online Guide to Decoding Financial Statements.
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