Tribune Co., the bankrupt owner of the Chicago Tribune, Los Angeles Times and six other daily newspapers, including the Orlando Sentinel, is interviewing bankers about selling its papers, according to two people with knowledge of the matter.
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.
Tribune Co., in addition to owning several big metro dailies, also owns somewhat smaller newspapers including the Orlando Sentinel and the South Florida Sentinel. According to reports, Tribune Co. could choose to sell some or all properties, perhaps beginning with divesting some of the smaller papers.
