Here's some news out of the Tribune Company: As it emerges from bankruptcy, the embattled media conglomerate is looking to sell off The Chicago Tribune and The Los Angeles Times.
Bloomberg's Edmund Lee reports:
Tribune Co., the bankrupt owner of the Chicago Tribune, Los Angeles Times and six other daily newspapers, is interviewing bankers about selling its papers, according to two people with knowledge of the matter.
Tribune Co. is seeking an adviser for a possible sale after the company exits bankruptcy, which is slated to happen by Dec. 31, according to the people, who asked not to be named because the discussions are private. Rupert Murdoch, chairman and chief executive officer of News Corp. (NWSA), plans to take a close look at Tribune Co.’s newspaper assets once they’re available, according to a person with direct knowledge of his thinking.
On a conference call with Wall Street analysts and reporters last month, News Corp. C.O.O. Chase Carey declined to comment on the rumors that Murdoch has been eyeing the Times and the Tribune. The company has denied that it is in talks to acquire either paper.
But in a subsequent New York Times piece that News Corp.'s public relations team was happy to pass around to bloggers, Amy Chozick reported that Murdoch was "looking to make acquisitions again" now that the dust from the U.K. phone-hacking scadal has settled.