The website BizzyBlog does a rough calculation of the actual price being paid for the newspapers owned by the Tribune Company, if real estate billionaire Sam Zell's complex offer to buy the company in partnership with an employee ESOP goes through. The Tribune Company owns a lot of broadcast properties and other non-newspaper assets, most of which are extremely valuable.The calculations are admittedly rough, and I am not certain that all the details have been properly included. Nevertheless, the conclusions are not likely to be significantly different than the analyst's. After deducting the rough market value of all the non-newspaper assets from the reported purchase price:This leaves a relatively paltry $2.4 billion to spread around to the newspapers, which include:- The Chicago Tribune- The four former Times Mirror properties noted above- The Orlando Sentinel- Nine other smaller papers.How paltry is that $2.4 billion?The Tribune company paid $8 billion for Times Mirror in 2000. This...(Read Full Post)