Stocks expected to move Friday
Tribune Co. (TRB) said its board has set a committee to oversee management's exploration of alternatives to create additional shareholder value, and the process is expected to conclude by year end. The media company also said it has reached an agreement to restructure two partnerships in which the Chandler family has an interest.
Tribune, Chandlers reach agreement
Among the options suggested by some shareholders have been splitting the company into newspaper and television divisions, then selling one or both; or selling the company's Major League baseball team, the Chicago Cubs. Three Los Angeles-area billionaires also have indicated, separately, an interest in buying the Los Angeles Times.
The Case for Citizen Ownership of the Los Angeles Times
Corporate ownership of daily newspapers is reaching the breaking point, especially now at the Los Angeles Times , which is owned by the Chicago-based Tribune Company media conglomerate. The newspaper is facing the same problem that hundreds of other newspapers are facing: Owners and stockholders who want profit growth each year, who want to cut back on editorial staff, and who could care less about the communities and people who actually read and gain insight from the newspaper. And there’s that massive problem of people reading dead-tree edition newspapers less and reading electronic online versions more — leading to smaller profits at the moment.
Tribune reporter has had enough
Two weeks ago, what should have been a proud moment in the life of an historic institution-the elevation of the popular and talented Cliff Teutsch to editor of the Courant-was marred by fresh promises by Tribune to exact more job cuts. We can’t even get through the choice of a new editor around here without the negative spin of Tribune’s rote management default: gutting the very property it claims to be managing for shareholders. This is an open e-mail from a concerned and experienced newsman who isn’t afraid to tell you that Tribune’s “cost center” mentality is alienating your workforce, driving readers away in droves and contributing to a loss of confidence among advertisers and the civic community.
Tribune Board Appoints "Value Creation" Committee; LAT Not For Sale
The Tribune Company board meeting that some observers speculated could result in some kind of bold action instead wound up after five hours with a fairly typical action: the appointment of an independent special committee “to oversee management’s exploration of alternatives for creating additional value for shareholders.” It’s close to the board equivalent of a “for sale” sign if the numbers are right. The seven indie board members are on the committee, expected to wind up its work by the end of the year.
Tribune Restructuring 2 Partnerships
CHICAGO — Tribune Co. announced Thursday night that it is restructuring two complex partnerships with the Chandler family, its largest single shareholder, clearing the way for the struggling media company to pursue new initiatives by year's end.
Tribune to consider selling some media assets
The Tribune Company said last night that it would consider selling any or all of its 11 newspapers and 25 television stations, a move that could reshape the media landscape. The properties include The Los Angeles Times, The Chicago Tribune and The Baltimore Sun.
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