(RTTNews) - The beleaguered media giant Tribune Co. (TRB charts news PowerRating) has begun its turnaround efforts in earnest. The company is mulling options that could include a breakup or its outright sale, which is expected to be concluded by the end of this year.
Tribune owns eleven daily newspapers, including the Los Angeles Times, Chicago Tribune, Newsday, Baltimore Sun, Orlando Sentinel and Hoy (published in Spanish language). The company, which has a market capitalization of $8.4 billion, also owns twenty-five TV stations, including KTLA (Los Angeles), WGN (Chicago) and WPIX (New York). Tribune's other properties include Chicago Cubs baseball team and WGN radio.
Threatened by the fast growing Internet, Tribune's stock has seen a slump, losing almost half its value since 2000. In the last two years alone the stock has fallen nearly 40%. Taking into account, the myriad problems confronting the company, Tribune's future however appears difficult to read.
Full Story here.
Wednesday, October 25, 2006
Subscribe to:
Post Comments (Atom)
Posts
No comments:
Post a Comment