Chicago Tribune | LA Observed | Orlando Sentinel
“A sale transaction is only one of our possible strategic options, and there are many others,” Tribune Co. CEO Peter Liguori wrote in an email to employees Wednesday, Robert Channick reports.

Kevin Roderick shares the whole memo. In it, Liguori writes that the company "will continue exploring all strategic options to maximize shareholder value, including retaining and operating our publishing assets. The process is ongoing and no decision to sell our publishing assets is imminent." (more...)

Orlando Sentinel
Give Mark Russell a few points for honesty. The editor of Orlando Sentinel tells readers that "the move to cut news pages was driven by our need to reduce expenses ...[but] we also decided to expand the space for local news — the content we think is most valuable to our readers." The Tribune-owned paper is reducing news pages two months after the Chicago Tribune announced that it's adding 40 more news pages a week and said its news hole is larger than it was five years ago.
> Tribune ESOP settlement near, reports Crain's Chicago Business