No 20% premium on Tribune

Contrary to my suggestion in the earlier post that private-equity firms might be willing to pony up around $40 a share, CNBC's David Faber suggests that the premium to current prices would be much smaller. The problem, he says, is the continued belief that erosion in the newspaper business shows no sign of slowing down. Tribune shares were up 2.4 percent, to $33.79. With all the attention in recent weeks on a possible sale, the stock is only up about a buck - not a great sign.