LOS ANGELES, April 4 (UPI) -- Los Angeles billionaires Eli Broad and Ron Burkle met with advisers to decide whether to continue pursuing Tribune Co., published reports said Wednesday.
They sought to determine if they could make an offer the Tribune board would prefer to the $8.2 billion offer from Chicago real estate magnate Sam Zell, The New York Times and Variety reported.
Broad and Burkle representatives would not comment.
With a $25 million breakup fee, Zell's deal makes it fairly easy for others to make offers until the deal is completed, most likely at the end of the year.
Other interested suitors include New York Post owner Rupert Murdoch, who wants to merge some Post operations with Newsday, its Tribune-owned competitor, a Murdoch spokesman said.
Former Nasdaq Stock Market Chairman Frank Zarb has also expressed interest in buying Newsday, the Times said.
Los Angeles entertainment billionaire David Geffen told reporters this week he remained interested in buying all or part of the Los Angeles Times, also owned by Tribune.
Zell told Tribune executives he had every incentive to keep the newspaper and TV station assets together for at least 10 years, if only to avoid a punishing tax bill.
