Tribune Co. management and the Chandler family are trying to resolve their differences, the Wall Street Journal (subscription required) is reporting this afternoon, citing "people familiar with the matter." The talks follow the nasty exchanges in June when the Chandlers called for Tribune to either be broken up or sold. Here's a snippet:
The talks have been slow-going, these people said. The two sides are still far apart on their visions for the future of Tribune and the damage to their relationship is far from healed. In fact, one person familiar with the discussions said that while the two sides had agreed to temporarily stop airing their differences in public, their battle had poisoned the relationship so much that the Chandlers must inevitably disentangle themselves from the company, either through forcing a spinoff or sale of assets, or through unloading their shares directly.
The new discussions follow talks earlier this year that centered on restructuring two complex partnerships jointly owned by the family and Tribune. Also under discussion is the family's push for Tribune to spin off its TV stations or sell other assets. Helping revive the talks, the story said, was Tribune's success in completing a $2 billion stock buyback last month, a transaction publicly opposed by the Chandler family.