Zell to takeover Tribune Co. 

Shares of Tribune Co., owner of the Los Angeles Times and Chicago Cubs, rose after the Times reported the company may accept an $8 billion takeover offer from Chicago billionaire Sam Zell. Zell said he would not sell any of Tribune’s 23 television stations or 11 newspapers, but would create an employee stock ownership plan to help finance the acquisition.

Japan post office

The pending privatization of Japan’s post office, which also provides financial services, will unseat Citigroup Inc. as the world’s largest financial institution. U.S. officials fear the new giant could stamp out foreign and domestic competition and are pressuring Japan to offer safeguards. Sitting on assets of $1.96 trillion, Japan Post secures about 28 percent of Japan’s household savings.

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Staff Report

A daily newspaper covering San Francisco, San Mateo County and serving Alameda, Marin and Santa Clara counties.
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