7:13pm: The Chicago Tribune itself also hears from sources that the Ricketts family has won the bidding to buy the Cubs. The bid is apparently for $900MM, but the family hasn’t yet worked out details with the Tribune Company.
5:30pm: The Tribune Company has chosen Thomas Ricketts as the favorite to buy the Cubs, an unidentified source told the Chicago Sun-Times. The article suggests Ricketts bid about $900MM.
8:44am: According to Richard Sandomir of the New York Times, the Tribune Company submitted a favorite among the three Cubs’ bidders to their creditors. It’s not known whether the favorite is Thomas Ricketts, Hersch Klaff, or Marc Utay/Leo J. Hindery Jr. This article had a more detailed look at the situation.