As stupid as it may be,
is a buy off the fact that it's going to be a "bidding war battleground" for private-equity firms, Jim Cramer said on his
"RealMoney" radio show Monday.
The private-equity guys believe they are rich enough to own a newspaper when it comes to Tribune. Even though it may have some "unique media assets," all told, it is an "indebted newspaper conglomerate," Cramer said.
There is no doubt that the private-equity investors are attracted to Tribune's TV assets and not its newspaper assets. In the end, though, Cramer says that someone is "going to get stuck owning a newspaper."
Private-equity firms believe that they can do a better job by firing people and making a leveraged TV play; and in the end, "all will win," Cramer said.
"When things are bad at a company, it is good to change things around." And it's especially a good thing when the company brings in a CEO who is not related to the sector of the company, Cramer said.
He added that when a new CEO has nothing to do with the culture of a company, he can clean house.
In particular, Cramer said two such situations come to mind:
In both cases, the companies replaced the existing family CEOs with new ones, and now both stocks are ready to move higher, he said.
Up at six points to $53, Wrigley has a group of people in management who are intent on making some changes. The stock should move down a dollar or two and then go up, Cramer said.
"Let it come in a little and then buy it," he advised
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