Tribune Co. making moves to possibly sell papers

About to emerge from bankruptcy later this month, the parent company of the LAT is looking for an adviser to arrange a sale of its newspapers, Bloomberg is reporting, citing sources. News Corp. CEO Rupert Murdoch plans to take a close look once the properties become available, according to the Bloomberg story. That's not to say that a sale of the Times is necessarily imminent (the new owners might focus on the smaller properties first), but it does suggest that the papers are not part of Tribune's long-range plans. From Bloomberg:

Murdoch, 81, has expressed interest internally at looking at some of Tribune's bigger-market newspapers, according to one of the people. News Corp. is splitting into two companies, with one focused on entertainment and the other on newspapers and publishing. The new publishing company, which will start off with a debt-free balance sheet, may give Murdoch more latitude to pursue newspaper acquisitions, the person said.

More by Mark Lacter:
American-US Air settlement with DOJ includes small tweak at LAX
Socal housing market going nowhere fast
Amazon keeps pushing for faster L.A. delivery
Another rugged quarter for Tribune Co. papers
How does Stanford compete with the big boys?
Those awful infographics that promise to explain and only distort
Best to low-ball today's employment report
Further fallout from airport shootings
Crazy opening for Twitter*
Should Twitter be valued at $18 billion?
Recent Media stories:
LA Times sells out its front page to a Disney movie
THR's Stephen Galloway wins entertainment journalist of the year
Maria Elena Durazo profile names a key name *
Finke, Waxman, Penske, Min: Battle of the Hollywood trades
The real bad news from Tribune

New at LA Observed
On the Media Page
Go to Media

On the Politics Page
Go to Politics
Arts and culture

Sign up for daily email from LA Observed

Enter your email address:

Delivered by FeedBurner

Mark Lacter
Mark Lacter created the LA Biz Observed blog in 2006. He posted until the day before his death on Nov. 13, 2013.
Mark Lacter, business writer and editor was 59
The multi-talented Mark Lacter
LA Observed on Twitter and Facebook