Tribune Co., the bankrupt owner of the Chicago Tribune, Los Angeles Times and six other daily newspapers, is interviewing bankers about selling its papers, according to two people with knowledge of the matter, reports Bloomberg.
Said the news service:
The company’s owners are seeking an adviser for a possible sale after Tribune Co. exits bankruptcy, which is slated to happen by Dec. 31, according to the people, who asked not to be named because the talks are private. Rupert Murdoch, chairman and chief executive officer of News Corp. (NWSA), plans to take a close look at Tribune Co.’s newspaper assets once they’re available, according to a person with knowledge of his thinking.
What goes around comes around. I was at the Chicago Sun-Times when he bought the paper from the Field family. Could this be the beginning of Groundhog Day? Yikes.