Rep. Henry A. Waxman on the future of the Los Angeles Times

Committee on Energy and Commerce 
Rep. Henry A. Waxman, Ranking Member

For Immediate Release: January 15, 2014
Elizabeth Letter: (202) 225-5735

Rep. Waxman Statement on Meeting with the Tribune Company

WASHINGTON, DC— Today Ranking Member Henry A. Waxman released the following statement on the meeting between Energy and Commerce Committee staff and representatives of the Tribune Company on the future of the Los Angeles Times:

“My staff met today for over an hour with the general counsel and chief financial officer of the Tribune Company. The purpose of the meeting was to learn more about the terms under which the Los Angeles Times and other newspapers will be spun off by the Tribune Company. It was a helpful meeting at which a range of issues were discussed, including the ownership of the Los Angeles Times building, the cash payment by the newspapers to the Tribune Company, the disposition of assets like careerbuilder.com and cars.com, the tax implications of the transaction, and the underfunded pension.

“I am better informed about the transaction as a result of the meeting, but my concern about the fate of the Los Angeles Times was not alleviated. The Tribune Company officials stressed their view that the company is acting in the best interests of its shareholders. My concern, however, is the best interests of the public in the on-going viability of the Los Angeles Times and other important newspapers. I intend to continue my inquiry and will be seeking a personal meeting with the CEO of the Tribune Company.”