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“A group led by Los Angeles billionaires Eli Broad and Ron Burkle also made a higher offer for Tribune at a 12-percent premium of $34 a share, according to a source familiar with the matter. The Broad and Burkle offer values the company at $8.2 billion, versus the Chandlers' $7.6 billion.
The bids come after several private equity firms looked at Tribune and either submitted bids without a substantial premium or decided not to bid.
"Lo and behold, there is a Santa Claus," Benchmark Co. analyst Edward Atorino said.”
https://www.hollywoodreporter.com/news/chandlers-la-billionaires-vie-tribune-128327
Pic is of Chandler from Forbes list