Report: Tribune Considers Broadcasting Spinoff
June 8, 2006 at 10:26 AM (PT)
Could the TRIBUNE CO. be considering a spinoff its broadcasting interests- 25 TV stations and Talk WGN-A/CHICAGO? The WALL STREET JOURNAL reports that the company is "seriously considering" the spinoff and has discussed the possibility with the CHANDLER family trusts (former owners of the LOS ANGELES TIMES who became TRIBUNE shareholders with the sale of TIMES MIRROR CO. to TRIBUNE in 2000), but that the CHANDLERS, while supportive of looking at the spinoff, object to the timing and strategy.
A broadcasting spinoff may be a prelude to the eventual breakup of the company, which owns papers like the CHICAGO TRIBUNE, LOS ANGELES TIMES, NEWSDAY, SOUTH FLORIDA SUN-SENTINEL, and BALTIMORE SUN. Another major newspaper group, KNIGHT RIDDER, was recently sold to MCCLATCHY CO., which has broken the group up by spinning off some of the KNIGHT RIDDER papers like the PHILADELPHIA INQUIRER and DAILY NEWS.