09/18/2009 05:12 am ET Updated May 25, 2011

Sam Zell "Ready To Walk Away" From Tribune: Report

So much for Sam Zell, newspaperman.

The developer, who arranged a controversial $11.7 billion employee buyout of newspaper giant Tribune only to see the company careen into bankruptcy a year later, is on the verge of giving up his claims to buy a huge stake in the company and, according to a source familiar with the matter, is ready to walk away from the company.

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