honoluluadvertiser.com

Sponsored by:

Comment, blog & share photos

Log in | Become a member
The Honolulu Advertiser
Posted on: Sunday, May 31, 2009

MLB: Dispute over broadcast contracts slows Cubs sale


Associated Press

CHICAGO — According to a published report, a dispute over the value of the Chicago Cubs' broadcasting contracts is bogging down the Tribune Co.'s attempt to sell the team to Wilmette, Ill., investment banker Tom Ricketts and his family.

Tribune Co. currently controls WGN-TV, WGN radio and Comcast SportsNet Chicago, all of which broadcast Cubs games. The exposure has generated millions of ticket sales at Wrigley Field and significantly increased the value of a team Tribune Co. bought for $20.5 million in 1981.

But the Chicago Tribune, also owned by Tribune Co., reported Sunday that the Ricketts family is disputing the value of those broadcast contracts, which has thrown the Cubs' $900 million price tag into question.

Information from: Chicago Tribune, http://www.chicagotribune.com