LOS ANGELES (MarketWatch) - Shares of Tribune Co. jumped by more than 6% at one point Friday after the newspaper and television company said it would consider strategic options such as selling itself, breaking the company up or taking it private.
The stock's rise follows gains on Thursday that were triggered by rumors the company would take significant action at a board meeting.
The company said late Thursday it created a special committee on the board to examine different strategic scenarios. The move follows months of agitation by investors, including the Chandler family, the leading shareholders in the company. The Chandlers called in June for the company to consider breaking itself up.
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Friday, September 22, 2006
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