Working late in Chicago

In a live story posted at 12:29 1:26 am Midwest time, the Chicago Tribune's website says the board of the parent Tribune company was busily negotiating a $13 billion deal with Sam Zell in hopes of closing the sale of the company "before markets open Monday morning." A final sales price and other details remained to be worked out — "the situation was still fluid and sources cautioned that a deal might not be completed," the Tribune reporters said — but the Tribune board clearly prefers a future with Zell in charge over Los Angeles billionaires Eli Broad and Ron Burkle. The New York Times reported earlier tonight that Zell on Sunday raised his offer to more closely match what the West Coast interlopers had offered.