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A Tribune
filing says
Sam Zell will have the right to veto any major transactions. Tribune employees, who will get company shares but who will no longer get 401(k) contributions from the company, will have far less control, reports
Floyd Norris. He writes in a TimesSelect subscription-required
piece: "To those of us who care deeply about the future of newspapers, this deal is encouraging. At long last, someone without an existing tie to the industry has stepped up to say he sees value in it. No such person turned up when Knight Ridder was auctioned. Mr. Zell’s record as an investor is not flawless, but it is very good." | Related
comment from
Steve Rhodes.
>
Execs stand to gain windfall equal to 8% of Tribune's value (ChiTrib)
