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Tribune Picks Potential Buyer for Cubs

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The Tribune Company has picked a potential buyer for the Chicago Cubs. The asking price: $900-million.

The bidding process has lasted nearly two years. It all started when billionaire investor Sam Zell decided to take Tribune Company private in 2007. The faltering economy had put doubts on the deal going through. But the Tribune is pushing forward with the process. The company has selected the billionaire Ricketts family as the winning bidder for the Chicago Cubs. The family founded TD Ameritrade Holding Corporation.

Tom Ricketts is the family’s point person in the Cubs purchase. In a statement, he says, quote, “We share the goal of Cubs fans everywhere to win a World Series and build the consistent championship tradition that the fans deserve.” The deal still has to be finalized. Major League Baseball also would have to approve it.

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