With Tribune Co. expected to emerge from bankruptcy soon, News Corp. Chairman and Chief Executive Rupert Murdoch is looking to acquire two of its trophy properties — the Los Angeles Times and the Chicago Tribune.
Tribune Co.'s debt holders — two investment firms and a bank — will become majority owners of the company after it exits bankruptcy, which could happen by year's end. News Corp. executives have had preliminary talks with these debt holders about acquiring the Los Angeles Times and Chicago Tribune, according to two ranking News Corp. executives and others familiar with the situation.
These people cautioned that talks are in the early stages, and that a deal is by no means certain. Other potential buyers have expressed interest.
Murdoch heads the world's largest news company, which includes the Wall Street Journal and the Times of London.
Acquiring the Los Angeles Times and the Chicago Tribune would give him strong footholds in the nation's three largest media markets: New York, Los Angeles and Chicago.
Murdoch's lieutenants say he has long wanted to buy The Times. On trips to Los Angeles, he is known to mark up the newspaper with a Sharpie pen to illustrate how he would design pages.
News Corp. and Tribune Co. have existing business ties. Tribune owns 23 television stations, including nine that carry the programming of News Corp.'s two broadcast networks. Tribune stations in San Diego, Sacramento and five other markets are Fox network affiliates.
The Los Angeles Times also prints more than 100,000 copies of the Wall Street Journal that are distributed in Southern California, and the Tribune prints the Journal in Chicago.
http://www.latimes.com/business/la-fi-ct-murdoch-newspapers-20121020,0,6204152.story
LOL
Thats gonna make liberals heads explode if he buys them.
Tribune Co.'s debt holders — two investment firms and a bank — will become majority owners of the company after it exits bankruptcy, which could happen by year's end. News Corp. executives have had preliminary talks with these debt holders about acquiring the Los Angeles Times and Chicago Tribune, according to two ranking News Corp. executives and others familiar with the situation.
These people cautioned that talks are in the early stages, and that a deal is by no means certain. Other potential buyers have expressed interest.
Murdoch heads the world's largest news company, which includes the Wall Street Journal and the Times of London.
Acquiring the Los Angeles Times and the Chicago Tribune would give him strong footholds in the nation's three largest media markets: New York, Los Angeles and Chicago.
Murdoch's lieutenants say he has long wanted to buy The Times. On trips to Los Angeles, he is known to mark up the newspaper with a Sharpie pen to illustrate how he would design pages.
News Corp. and Tribune Co. have existing business ties. Tribune owns 23 television stations, including nine that carry the programming of News Corp.'s two broadcast networks. Tribune stations in San Diego, Sacramento and five other markets are Fox network affiliates.
The Los Angeles Times also prints more than 100,000 copies of the Wall Street Journal that are distributed in Southern California, and the Tribune prints the Journal in Chicago.
http://www.latimes.com/business/la-fi-ct-murdoch-newspapers-20121020,0,6204152.story
LOL
Thats gonna make liberals heads explode if he buys them.
