Wednesday, December 13, 2006

Chandler Family Buying Tribune?

The Chandler Family is considering buying a portion of the Tribune Company, according to people briefed on yesterday's talks. What this may mean for the employees of the Los Angeles Times is unknown at this time.

The talks come six months after the Chandlers pressed to put the Tribune up for sale. The family, which became a large shareholder in Tribune when it sold Times Mirror to the company, has been critical of Tribune’s management and its slumping stock price.

When the Chandlers first clashed with Tribune management, the family had no interest in buying the company, people involved in the talks said.

The Chandler Family owns 20% of the Tribune Company, and may become the owners of the Los Angeles Times in the near future.

Read the complete article on the New York Times

Source LAObserved

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