Flags wave along Michigan Ave. Bridge outside the Chicago Tribune Tower in Chicago in this April 12, 2006, file photo. The Tribune Co. remained silent Sunday, April 1, 2007, as its board of directors reportedly met to vote on competing buyout offers for the media company. The bid came from real estate mogul Sam Zell and a joint bid by Los Angeles billionaires Eli Broad and Ron Burkle. Chicago-based Tribune had set a March 31 self-imposed deadline to announce a spin-off, buyout or reorganization.

Photo by Charles Rex Arbogast, Associated Press

Flags wave along Michigan Ave. Bridge outside the Chicago Tribune Tower in Chicago in this April 12, 2006, file photo. The Tribune Co. remained silent Sunday, April 1, 2007, as its board of directors reportedly met to vote on competing buyout offers for the media company. The bid came from real estate mogul Sam Zell and a joint bid by Los Angeles billionaires Eli Broad and Ron Burkle. Chicago-based Tribune had set a March 31 self-imposed deadline to announce a spin-off, buyout or reorganization.

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