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NEWS ABOUT: Tribune Company

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LA Times Shakeup: He Said, He Said

Editor who may have quit, publisher who may have fired him disagree

(Newser) - In announcing that James O'Shea was leaving the LA Times, publisher David Hiller said the paper's top editor was "unable to make the hard choices" involved in budget-cutting. But the rift may run deeper: O'Shea tells the Wall Street Journal his ideological differences over how to save a sinking... More »

LA Times Loses 3rd Editor to Budget Disputes

It's déjà vu for bigwigs: O'Shea is forced out after refusing cutbacks

(Newser) - The top editor of the Los Angeles Times has been fired after a confrontation with publisher David Hiller over $4 million in planned newsroom cutbacks, reports AP. James O'Shea's departure after just 14 months marks the third time in less than three years that the paper's top editor has left... More »

News Corp. to Sell 8 Fox Stations for $1.1B

Company unloads local operations to focus on larger markets

(Newser) - News Corp., shifting its focus to its larger, more profitable properties, will sell eight of its medium-market Fox network TV stations to investment firm Oak Hill Capital Partners for $1.1 billion. The sale will leave the media company, which acquired the Wall Street Journal and Dow Jones for $5.... More »

Zell Seals $8.2B Tribune Deal

Vows sweeping change at now-private media company

(Newser) - Billionaire Sam Zell today sealed his bid to buy Tribune Co., proving wrong all Wall Street naysayers since his original $8.2 billion offer last April. Zell steps in as CEO and chairman, and promises sweeping reforms to the way the now-private media conglomerate will be run, the Chicago Tribune ... More »

FCC Chief Won't Delay Media Vote

Defiant Martin wants to relax ownership rules in broadcast, print

(Newser) - FCC chief Kevin Martin will push ahead with a vote next week to allow media companies to own a broadcasting station and newspaper in the same city, the Wall Street Journal reports. The move comes despite heavy criticism from senators who say he's rushing into a major policy change without... More »

FCC to Give Stalled Tribune Sale a Push

(Newser) - Sam Zell’s $8.2-billion bid to take the Tribune Company private got a boost yesterday from  FCC Chairman Kevin Martin, who green-lighted a two-year exemption on rules barring ownership of newspapers and broadcast stations in the same market. Zell needs waivers for five markets in which the Tribune has... More »

FCC Chief Wants to Lift Cross-Ownership Rule

Says letting newspapers own TV stations in same market would aid flagging industry

(Newser) - After weeks of speculation, FCC chairman Kevin Martin came out  today in favor of relaxing a decades-old rule barring ownership of newspapers and TV stations in the same market. In a call to reporters and an op-ed piece in the New York Times, he said the change is needed to... More »

Why Sam Zell Is Still High on Tribune

Ducati-riding magnate tells the New Yorker his deal's golden

(Newser) - Billionaire real estate magnate Sam Zell, legendary for turning around distressed properties, is likely to have his riskiest play—the struggling media giant Tribune—in his hands by year’s end. The financials have only gotten worse since he made the deal, but the "extravagantly confident" Zell isn't showing... More »

FCC May Ease Rules on Media Owners

Would allow firms to own newspapers and TV stations in same city

(Newser) - FCC Chairman Kevin Martin wants to relax limits on media consolidation, starting with repealing the rule that a company cannot own a newspaper and television or radio station in the same city, the New York Times reports. The commission is split, with two Democrats opposed and three Republicans supporting, a... More »

Smoking Has Its Price, and It's $1,200 a Year

Writer blasts newspaper's owner for ‘tobacco use fee’

(Newser) - A South Florida Sun-Sentinel writer is crying foul over his newspaper's parent company charging a “tobacco use fee”—a health plan add-on that punishes employees for smoking. Michael Mayo says he “was completely shocked” to learn his employer would extract $100 a month from any employee who... More »

Trib to Sell Cubs Piece by Piece

Company now wants to sell franchise in parts, conflict with MLB possible

(Newser) - The Cubs' owners stoked fears of a long ordeal today by announcing their plan to sell the franchise in parts. Such a sale would limit Bud Selig’s influence over the deal and might garner the Tribune Co. more cash, the Los Angeles Times reports. But selling the field, network... More »

Shareholders OK Tribune Takeover

But analysts say Zell's bid should be lowered

(Newser) - The Tribune Co.’s shareholders approved Sam Zell's $8.2 billion takeover today, nudging the publisher one step closer to private ownership. But some analysts remain skeptical that the deal will go through as planned—the company’s declining profitability since the April announcement has triggered speculation that the... More »

Trib Deal Could Come Undone

Wall Street unsure of Zell takeover will go through

(Newser) - The Tribune Company’s shareholders are meeting tomorrow to approve Sam Zell’s $8.2 billion takeover, but whispers persist on Wall Street that the deal will crumble. A disappointing stock price, concerns about the fading newspaper business, and a sagging credit market have convinced some analysts that Zell’s... More »

Geffen, Zell Talk Deal For LA Times

Geffen wants it; Zell has $13 billion in debt to pay down

(Newser) - David Geffen wants to get his hands on the LA Times, and he's optimistic that he may yet succeed after talking to Sam Zell, the feisty real estate mogul who bought the Tribune Company Monday. The two discussed both a spin-off and a joint venture partnership, sources close to the... More »

Tribune Sold To Zell

Real estate magnate will take it private; Cubs for sale

(Newser) - Chicago real estate magnate Sam Zell won a last-minute bidding  war to buy the Tribune Compay with a $34-a-share offer, reports the Chicago Tribune. Zell will take the media conglomerate private in a deal that includes an employee stock ownership plan. The Cubs will be sold separately. More »

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