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Zell acknowledged that the future will involve divestitures. Offer books will be ready in the next two weeks for the Chicago Cubs, and a transaction could take place before yearend. He also talked about Newsday, acknowledging that there are interested buyers but he hasn’t made a decision yet. In line with the rest of the industry, Zell said that print advertising revenue is down this year, due in part to a continued decline in classified ads. — A.W.