The Tribune Company agreed on Monday to buy 19 local television stations for about $2.7 billion, becoming one of the nation’s biggest commercial TV station owners.
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Suspicions that reporters were monitoring bank executives never amounted to much until an official at Goldman Sachs called his counterpart at JPMorgan.
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Warren Buffett’s letter to shareholders underscores his reputation as a contrarian investor, describing his investments in newspapers, a business others have shunned.
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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