Tuesday, November 20, 2007
Another Tribune Asset Sold
Hudson Capital has been named as the possible buyer of the property KTLA Channel 5 occupies, and will then lease from the new owner if the transaction is completed. If there were any questions which Tribune Company assets would be spun off if the FCC does not allow cross ownership in one market, such as Los Angeles, it’s obvious the television station will be sold and not the Los Angeles Times.
In another development, it has been reported by Radio Online that Sam Zell is considering the sale of WGN-AM radio located in Chicago for $300 million, as a way of appeasing the FCC, and pushing the Tribune Company sale through before the end of the year.
Tribunites across the country await the FCC vote on cross ownership scheduled for December 18th; with fingers crossed it is completed.