FOR IMMEDIATE RELEASE: March 31, 2007
INTERNET PUBLISHER ANDY MARTIN OFFERS TO PURCHASE [CHICAGO] TRIBUNE COMPANY
(NEW YORK) Internet publisher, broadcaster and media critic Andy Martin will hold a New York City News conference Sunday April 1 to announce he has submitted an offer to purchase the Tribune Company at $35 per share. Martin told independent directors Saturday his proposal was a form of “peoples’ equity” instead of "private equity," and would allow existing shareholders to profit if he succeeded in turning around the media conglomerate. Martin noted he had begun at the bottom in his communications industry experience, as a home delivery newsboy carrying the Hartford Courant each morning. His letter offering to purchase the company is posted at ContrarianCommentary.com: http://www.contrariancommentary.com/community/Home/tabid/36/mid/372/newsid372/99/Default.aspx
“This is a battle for the soul of a city, and a battle to save the soul of a city,” Martin will state. “Chicago bank headquarters have left. Other enterprises have become mere branches. The Tribune company is our remaining crown jewel. It stands in jeopardy of falling to local asset strippers and California ego trippers.
“My proposal will save the company and keep the enterprise intact. The plan carries on the bold, entrepreneurial vision of Colonel McCormick. It is dynamic and it is imaginative. As I told the directors, the Tribune is ‘well-managed,’ but that is part of the problem. At a time of industry wide challenge the enterprise has fallen into the hands of 'managers' instead of visionaries. With new media challenges, we need an owner with a vision to run roughshod over the ‘managers.’ I expect to fight and I expect to win,” Martin will state.
Martin is Executive editor and Publisher of ContrarianCommentary.com.
NEWS CONFERENCE DETAILS:
Date/time: Sunday, April 1 1:00 P.M.
Location: SW Corner of Wall & Broad Streets,
New York (New York Stock Exchange)
MEDIA
CONTACT: Andy Martin
(312) 440-4124; (917) 664-9329
Source: Andy Martin Worldwide Communications
INTERNET PUBLISHER ANDY MARTIN OFFERS TO PURCHASE [CHICAGO] TRIBUNE COMPANY
(NEW YORK) Internet publisher, broadcaster and media critic Andy Martin will hold a New York City News conference Sunday April 1 to announce he has submitted an offer to purchase the Tribune Company at $35 per share. Martin told independent directors Saturday his proposal was a form of “peoples’ equity” instead of "private equity," and would allow existing shareholders to profit if he succeeded in turning around the media conglomerate. Martin noted he had begun at the bottom in his communications industry experience, as a home delivery newsboy carrying the Hartford Courant each morning. His letter offering to purchase the company is posted at ContrarianCommentary.com: http://www.contrariancommentary.com/community/Home/tabid/36/mid/372/newsid372/99/Default.aspx
“This is a battle for the soul of a city, and a battle to save the soul of a city,” Martin will state. “Chicago bank headquarters have left. Other enterprises have become mere branches. The Tribune company is our remaining crown jewel. It stands in jeopardy of falling to local asset strippers and California ego trippers.
“My proposal will save the company and keep the enterprise intact. The plan carries on the bold, entrepreneurial vision of Colonel McCormick. It is dynamic and it is imaginative. As I told the directors, the Tribune is ‘well-managed,’ but that is part of the problem. At a time of industry wide challenge the enterprise has fallen into the hands of 'managers' instead of visionaries. With new media challenges, we need an owner with a vision to run roughshod over the ‘managers.’ I expect to fight and I expect to win,” Martin will state.
Martin is Executive editor and Publisher of ContrarianCommentary.com.
NEWS CONFERENCE DETAILS:
Date/time: Sunday, April 1 1:00 P.M.
Location: SW Corner of Wall & Broad Streets,
New York (New York Stock Exchange)
MEDIA
CONTACT: Andy Martin
(312) 440-4124; (917) 664-9329
Source: Andy Martin Worldwide Communications
posted by Andy Martin | 3:37 PM
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