Morning Media News

Rupert Murdoch not convinced the Chandlers can do it
Chicago Tribune

Murdoch's company has talked with the Chandlers about contributing more than $200 million in equity to the family's $31.70-a-share bid for the Chicago media conglomerate, which owns the Chicago Tribune, Los Angeles Times, WGN-Ch. 9 and other media and entertainment properties. But the Murdoch camp suspects the offer by Tribune Co.'s top shareholder may face too many hurdles to succeed. As of Wednesday, News Corp. had yet to finalize its commitment in writing.

LAT to Meld online edition with printed edition
Los Angeles Times

O'Shea employed dire statistics on declining print advertising revenue to urge The Times' 940 journalists to throw off a "bunker mentality" and view latimes.com as the paper's primary vehicle for delivering news.In his first significant action since becoming editor in mid-November, O'Shea said he would create the position of editor for innovation and launch a crash course for journalists to push ahead the melding of the newspaper and its website.

Chandlers' 20% stake in Tribune is more than enough
The Wall Street Journal

In a sign that Tribune Co. isn't enthusiastic about the three proposals it received last week, the company's advisers have gone back to firms that did due diligence but didn't bid, to see if they would be willing to make an offer, according to people familiar with the matter. Among the groups approached again was a consortium including private-equity firm Madison Dearborn Partners, long considered a favorite in the process. But the consortium -- which also comprises Providence Equity Partners Inc. and Apollo Advisors LP -- still isn't interested in bidding, these people said.

Inquirer layoffs sparking dispute
The Philadelphia Tribune

The president of the Newspapers Guild of Greater Philadelphia told The Philadelphia Tribune yesterday he is outraged at Philadelphia Inquirer President and CEO Brian Tierney for putting the blame on the Guild in regards to the seniority system surrounding the recent layoffs at the paper – specifically the significant cuts made to Black reporters working there.