The Tribune Company is following in the footsteps of Time Warner and News Corporation as the trend of spinning off print publications into separate companies continues.
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As companies like Tribune and Gannett buy up local television stations, the goal is not transformation, but leverage, using size to cut better deals with distributors and suppliers.
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Charles and David Koch, the billionaire industrialists and supporters of libertarian causes, are exploring a bid to buy the Tribune Company’s eight regional newspapers.
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The Tribune Company has hired investment banks to pursue a sale of its top newspapers, including The Chicago Tribune and The Los Angeles Times.
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