premise: Two Los Angeles investors submitted a bid Wednesday to buy one of the largest media groups in the United States, which publishes major newspapers like the Los Angeles Times, the Chicago Tribune and New York's Newsday.
  Affiliates of Billionaire Eli Broad and prominent investor Ron Burkle's companies "have submitted a competitive bid for acquisition of the entire Tribune company", the Los Angeles Times reported at its website, quoting a source familiar with the offer.
  How much the two businessmen would be willing to pay for the Chicago-based media company and the details about their offer remained unclear, but they have said for months that they wanted a local group to take control of the Los Angeles Times, according to the newspaper.
  The offer came a day after it was reported that the Times' editor Dean Baquet would leave his post because of a long-standing dispute with the paper's Chicago parent company over proposed staff reductions.
  Meanwhile, famous Hollywood entertainment mogul David Geffen has also expressed interest in acquiring the Los Angeles Times. Geffen was not known to have submitted an offer so far.
   What might the bid allow Burkle and Broad to do?
hypothesis: proposed staff reductions