Friday, September 22, 2006

Tribune expects strategic changes by yearend

(AP) — Tribune Co., under pressure from shareholders to boost its stock price, is signaling it may sell, break up or take private the company that owns the Chicago Tribune, the Los Angeles Times, television stations and the Chicago Cubs.

The company is targeting potentially transforming changes by the end of the year following a five-hour meeting of its board of directors on Thursday.

Wall Street reacted positively. A day after Tribune shares rose 4.4%, they had gained another $2.02, or 6.3%, to $34.07 early Friday afternoon on the New York Stock Exchange.

FULL STORY

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