Tribune wants to buy more newspapers

Crain’s Chicago Business

Tribune Publishing CEO Jack Griffin wants to buy “smaller newspapers in or near his existing markets,” Lynne Marek reports.

“We think there are more of these opportunities around the country that are geographically adjacent to where we run big papers and big brands, and that over time we can achieve similar kinds of consolidation and acquisition opportunities that are going to add meaningfully to our footprint and our revenue and our profit,” Griffin told Marek.

In the past year, Tribune’s Baltimore Sun Media Group has purchased Baltimore City Paper and two smaller Maryland papers, The Capital in Annapolis and the Carroll County Times.

Griffin also told Marek that cutting costs to adapt to lower revenue is “an absolute requirement of the business.” Tribune Publishing’s spinoff from Tribune Co. is scheduled for Aug. 4.

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