Tribune Company

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Don't Let the Koch Brothers Buy the Media

Harold Meyerson doesn't want the LA Times to become a political tool

(Newser) - The Tribune Company's board likely views the Koch Brothers' attempt to buy its eight newspapers as a purely financial transaction. But almost no one else sees it that way, writes Harold Meyerson at the Washington Post . Thousands of LA Times readers, for instance, have already signed petitions against the... More »

Koch Bros. Look to Buy 8 Newspapers

Could use LA Times and others to spread conservative message

(Newser) - Brothers Charles and David Koch, the billionaire businessmen behind Koch Industries and noted supporters of libertarian causes, are looking to buy into the newspaper business. They're exploring a deal to acquire the Tribune Company's eight regional newspapers, including the Los Angeles Times, the Chicago Tribune and the Baltimore ... More »

Reuters Suspends Editor Accused of Aiding Hackers

Matthew Keys, 26, faces up to 25 years in prison

(Newser) - A social media editor for Reuters is in hot water, accused of exacting revenge on a former employer by helping Anonymous hack it. Federal prosecutors say Matthew Keys, 26, passed along log-in credentials to servers owned by the Tribune Co., reports the Guardian . His Anonymous pal allegedly used them to... More »

Tribune Company Set to Exit Bankruptcy

But it may soon sell off its newspapers

(Newser) - The Tribune Company is set to emerge from bankruptcy today, four years after it filed for Chapter 11 protection as the American economy nosedived. The reorganized multimedia company has a new board of directors that includes plenty of entertainment industry veterans, and profitable assets including eight major daily newspapers and... More »

Tribune Co. Explores Sale of LA Times, Chicago Tribune

Rupert Murdoch rumored to be interested

(Newser) - What happens when you take the Tribune out of the Tribune Co.? We might be about to find out. The company is actively seeking bankers to help sell off its newspapers—potentially including the Chicago Tribune and LA Times—when it emerges from bankruptcy at the end of the... More »

'Red-Blooded' Murdoch Eyes LA Times, Tribune

News Corp's CEO 'has an irrational love of newspapers'

(Newser) - The head of the world's biggest news company is eying two crown jewels in American journalism: the Los Angeles Times and the Chicago Tribune. In fact, Rupert Murdoch has been in preliminary talks about buying both papers in a purchase of the Tribune Co., according to executives at Murdoch'... More »

Time to Occupy Newsrooms

Where unfair bonuses are concerned, media firms rival Wall Street: David Carr

(Newser) - USA Today applauded Occupy Wall Street for attacking firms that give “huge bonuses” to execs who makes terrible decisions. The paper’s right—but it’s being hypocritical. Gannett, owner of USA Today, is a champion of “bonus excess despite miserable operations,” David Carr writes in... More »

Trib CEO to Jump Before Being Pushed Out

Randy Michaels expected to resign this week

(Newser) - Weeks after the New York Times detailed the raucous behavior of Tribune CEO Randy Michaels, he is reported to be resigning. The Times article described a boys club atmosphere created by Michaels and his chief innovation officer, Lee Abrams, at the bankrupt newspaper and TV company. Abrams was recently fired,... More »

How Frat Boy Hijinks Helped Screw the Tribune Co.

Boss Randy Michaels 'offered $100 to waitress to flash her breasts'

(Newser) - The shockingly sexist frat boy hijinks of top managers of the Tribune Company created an alienating workplace and "bankrupt culture" that helped send the financially troubled media firm into a tailspin, reports the New York Times . Just after radio exec Randy Michaels was hired by billionaire owner Sam Zell... More »

Radio Exec Bans 'Flee,' 'We're Back,' and 'Death Toll'

119 words, phrases go on CEO's naughty list

(Newser) - Anchors and reporters at WGN radio in Chicago have a new job requirement: Don't say any of the station's 119 undesirable words and phrases on the air. Randy Michaels, CEO of parent company Tribune Co., wants information delivered in a more down-to-earth manner, without "newsspeak." On the Voldemort... More »

Sam Zell Steps Down as Tribune CEO

Randy Michaels steps up as court ruling beats back creditors

(Newser) - Maverick takeover artist Sam Zell resigned as CEO of the Tribune Co. today, naming Randy Michaels as his successor. Zell is still chairman of the news giant he bought, disastrously, in 2007. Tribune, which has been bankrupt for almost a year, yesterday won an extension until February of the right... More »

Tribune Sells Cubs for $800M

Family will pay $800M for 95% stake in team, Wrigley field

(Newser) - It’s official: Tribune Co. has signed an agreement to sell a majority stake in the Chicago Cubs to the Ricketts family, the Chicago Tribune reports. Picked as the winning bidder for the franchise in January, family negotiated a deal to pay $800 million for a 95% stake in the... More »

News Corp. Talks Universal Paywall With Times, Post

(Newser) - Executives at Rupert Murdoch's News Corp. have been meeting with rival newspaper publishers about a consortium that would charge for web content. The publishers of the New York Times, Washington Post, and Los Angeles Times are all believed to have met with Jonathan Miller, the News Corp. officer overseeing digital... More »

Lenders, Not Zell, May Run Tribune Co.

(Newser) - The bankrupt Tribune Company could emerge from protection with its top creditors—and not chairman Sam Zell—in charge, the Chicago Tribune reports. Zell exerts control based on $90 million he spent to secure the option of buying 40% of the company for $500 million, and a $250 million loan.... More »

Buyer Wants Belushi, Cusack, Murray In on Cubs Deal

(Newser) - Would-be Cubs buyer Tom Ricketts has approached a bunch of baseball-loving celebrities, including Bill Murray, Jim Belushi, and John Cusack, about going in with him on the team, the Chicago Tribune reports. Ricketts is asking each to pitch in $25 million, say sources—who add that Ricketts doesn’t need... More »

'I Made a Mistake' Buying Tribune Co.: Zell

Canny investor admits he backed a losing horse

(Newser) - Sam Zell is famous for his business acumen. He made a near-psychic call to sell his office-property company for billions just months before the market tanked. But the magnate now tells Bloomberg another deal he made was as boneheaded, in retrospect, as the Equity Office Properties deal was prescient: buying... More »

Beatty Sued Over Dick Tracy Rights

Tribune Co. says filmmaker lost rights by not using them

(Newser) - A unit of the bankrupt Tribune Co. is suing Warren Beatty over the rights to the Dick Tracy character, Reuters reports. Beatty bought the rights to the hard-boiled cartoon detective in 1985 and made the Dick Tracy movie, but he has made “no productive use” of Tracy in years,... More »

Times to Ax 300 Jobs, Local News Section

(Newser) - Amid growing gloom in the newspaper business, the Los Angeles Times plans to lay off 300 workers and shelve its local news section, LA Observed reports. Foreign and national news will be downplayed to fit local stories into the front section, the publisher said in a memo today. Seventy newsroom... More »

Family Buying Cubs for $900M

(Newser) - It looks like the Cubs are returning to family ownership, the Chicago Tribune reports. The billionaire Ricketts family is the winning bidder to buy the baseball team from Sam Zell's Tribune Co. The $900 million deal isn't sealed yet—other baseball owners must approve, for one thing—but it's expected... More »

Trib Goes Tabloid on Weekdays

Newspaper will be smaller on newsstands, remain broadsheet for home deliveries

(Newser) - The Chicago Tribune is changing its street-sale format from broadsheet to tabloid beginning next week, the newspaper reports. The move, which will affect weekday retail editions but not subscription copies, puts the paper in direct competition with its rival, the Chicago Sun-Times, which has long published in the format. The... More »

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