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Report: Second bid made for Cubs

Updated: July 7, 2009, 8:46 PM ET
ESPN.com news services

Tribune Co. has agreed to terms for the sale of the Chicago Cubs to a group led by private equity investor Marc Utay, giving the company two offers to submit to the bankruptcy court, two sources familiar with the sale process told Reuters on Tuesday.

It is the latest twist in a long-running effort by the bankrupt media company to sell the baseball team famous for its "lovable losers" image.

However, a source told the Chicago Sun-Times that the report of a second sale of the Cubs is ...

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