Move won't affect current role
NEW YORK — AT&T executive Leo Hindery has made a personal bid for Chronicle Books, a division of Chronicle Publishing of San Francisco.
Sources close to Hindery, the CEO of AT&T Broadband & Internet Services, said his run for the publishing house, where he worked in planning and finance in the 1980s, wouldn’t affect his position at AT&T. The dollar amount of the offer wasn’t clear, but it isn’t the only bid for the publisher of high-end table top and nonfiction books.
Chronicle would join various investments gathered in a holding company owned by Hindery’s family.
Hindery has denied rumors that he might be leaving AT&T. He joined the telephone and cable giant after it bought Tele-Communications Inc., where he was second in command to TCI chief John Malone.
Chronicle put most of its assets on the block earlier this summer and is shedding them rapidly. It recently sold the San Francisco Chronicle to Hearst Corp., which owns the city’s main competing newspaper, the San Francisco Examiner.