Tribune buys the LAT...again

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