Several big investors raise stakes in Tribune

Two major shareholders say a sale or breakup of the media company now appears inevitable.

Several investment companies that are among Tribune Co.'s largest shareholders bought more of the stock in the third quarter, betting on a higher share price for the beleaguered media company, financial reports show.

Two major investors who raised their stakes in Tribune, which owns the Los Angeles Times, said a sale or breakup of the company now appeared inevitable.

"I don't think you can put the rabbit back in the hat," said John W. Rogers Jr., chairman of Ariel Capital Management, which owns about 6.6% of the company's shares.