Sure, the Tribune Co. has owned the L.A. Times since 2000. But the Chandler family's trust kept the land at 1st and Spring streets in Downtown, so the Times had to pay rent. On Monday, Tribune announced it acquired the land under the Times and several of its other newspapers, tying it to the sale of the Tribune Studios in Hollywood and other land. Not much sentiment involved: "This tax-efficient transaction gives us complete control over some very strategic real estate assets in major markets around the country, particularly in downtown Los Angeles,” said Stephanie Pater, Tribune’s director of real estate. Reuters
More by Kevin Roderick:
Ralph Lawler of the Clippers and the age of AquariusRiding the Expo Line to USC 'just magical'
Last bastion of free parking? Loyola Marymount to charge students
Matt Kemp, Dodgers and Kings start big weekend the right way
LA Times writers revisit their '92 riots observations
Recent LAT stories on LA Observed:
LA Times writers revisit their '92 riots observationsLos Angeles more worldly since '92, LA Times 'more insular'
More recommended media coverage of the riots
Fiction does have a winner at LA Times Book Prizes
LA Times geography throws USC a curve
New at LA Observed
Follow us on Twitter
On the Media Page
Go to Media
LA Biz Observed
Go to LA Biz Observed
Sign up for daily email from LA Observed