Articles about "Tribune Co."


Koch Industries building

Koch brothers acquiring Tribune newspapers? I’d bet against it

I’m not a fan of speculating who will buy newspapers that are on the block. But I’ll make an exception with some quick thoughts on Tribune Co.’s publishing group — currently attracting investor interest as expected but likely months away … Read more

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Crowdfunding campaign aims to buy Tribune’s papers

Indiegogo.com
While concerns among some journalists mount concerning interest from Rupert Murdoch and the Koch Brothers over the sale of the Tribune Co., activist group The Other 98% proposes a different kind of community journalism. They've begun a campaign on Indiegogo.com called Free The Press, which aims to raise $660 million to "democratize the Tribune Company."

"The only people who are bidding on it right now are infamous right-wing Billionaires, who are likely to pay something around a $660 Million pricetag to control a big slice of trusted news media," the campaign reads. "Instead of sitting back an allowing whichever victor to manipulate us through the media, we've decided to stage an intervention. And we want you to join us." (more...)
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Tribune CEO: ‘no decision to sell our publishing assets is imminent’

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...)
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Hundreds protest possible Koch acquisition of Tribune papers

Los Angeles Times | The Huffington Post | Guardian
Members of labor unions and activists protested outside the Los Angeles headquarters of Oaktree Capital Management Tuesday to protest a possible sale of Tribune Co.'s newspapers to the billionaires Charles and David Koch. Oaktree has a large stake in Tribune Co.

“Our understanding is that, contrary to recent press reports, Tribune has made no decision to sell the Los Angeles Times or its other newspapers,” Oaktree said in a prepared statement. Koch Industries told Times reporter Walter Hamilton that stories about its interest in the newspapers are "pure speculation." (more...)
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New Newspaper Owners

Why news will survive the Koch brothers

It's a wonderful compliment for Tribune Co.'s newspapers that so many people are worried about what might happen to them under the ownership of Charles and David Koch, the libertarian billionaires said to be considering a bid for the outlets.

In California, unions and legislators have expressed concern about such a sale, the former implying they may withdraw funds invested with Oaktree Capital Management, Tribune's largest shareholder, if the Kochs get the papers. And the Courage Campaign has bought ads in the Tribune-owned Los Angeles Times asking readers to cancel their subscriptions if the Kochs pocket the paper.

But threatening newspaper publishers with canceled subscriptions is probably not the most effective way to get their attention. The average Sunday print circulation of the Los Angeles Times, for example, has dropped 9 percent in the past year, according to figures from the Alliance for Audited Media. ("Digital memberships" at Tribune properties are reportedly going very well.) (more...)
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Los Angeles Times

More groups organize against the Koch brothers buying Tribune’s newspapers

The New York Times | Los Angeles Times | Chicago Sun-Times | Crain's Chicago Business
The possibility of Charles and David Koch buying Tribune Co.'s newspapers "has struck a nerve in this liberal corner of the country," The New York Times reports from Los Angeles.

Ten unions sent a letter to Bruce Karsh, the chairman of Tribune's board of directors and president of Oaktree Capital Management, saying such a sale "would provide the Koch brothers a powerful and influential platform by which to promote, at both the local, state and federal level, that enactment of their anti-public pension fund policies," Adam Nagourney and Christine Haughney report. (more...)
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Chicagoans protest Koch brothers buying Tribune’s newspapers

At a protest in Chicago Wednesday, demonstrators expressed dismay about the possibility of David and Charles Koch buying Tribune's newspapers. It's kind of hard to tell from tweets how many people are outside Tribune Tower. StandUp Chicago says it's "dozens," while Keith Phipps says the protest is "small but vocal." (more...)
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Los Angeles Times journalists chafe at possible Koch ownership

Los Angeles Times | The Huffington Post | New Times Broward-Palm Beach | NewsBusters | The Atlantic Cities
"The people of Los Angeles would be up in arms if some out-of-town billionaires tried to buy the Dodgers and institute a rule that only right-handers could play on the team," Los Angeles Times cartoonist David Horsey writes in a piece accompanying a cartoon mocking the idea that the Koch brothers could buy Tribune Co.'s papers without enforcing ideological conformity. The conservative billionaires are reportedly interested in making a bid for the newspapers, which include the Los Angeles Times and the Chicago Tribune.

Having fallen short of their objective of crushing Democrats and liberalism, they now apparently believe a necessary component in their strategy is ownership of a few major newspapers. It is doubtful they want to merely have a voice on the editorial pages, as has always been a publisher’s prerogative. It is far more likely they hope to create print versions of Fox News.
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Pearlstein: Tribune journalists should ‘lob a stink bomb’ into potential Koch bid

The Washington Post | LA Observed | NPR
Tribune Co. employees bruised by years of callous ownership have a "golden opportunity to turn the tables on their tormenters and exact some revenge," Steve Pearlstein writes.

At its heart, any news organization is only as good as the journalists who put it out. Without the journalism, there are no readers, and without the readers there are no advertisers and subscription fees. It all starts with the news and opinions and graphics and photographs that journalists produce. And if those journalists decide collectively to walk out the door one day, the readers and advertisers are almost certain to follow.
Collective action would "lob a stink bomb" into a Tribune sale, Pearlstein writes.

Pearlstein "obviously has never heard about Sunday ad inserts that, sad to say, are the main reason many people buy the paper," Mark Lacter says. (more...)
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If Koch brothers purchased Tribune, what would it mean for current Los Angeles Times staffers?

In their very-brief no-comment on the sale rumors, the Kochs took care to note, “We respect the independence of the journalist institutions” owned by Tribune, but the staffs at those papers fear that, once Kochified, the papers would quickly turn into print versions of Fox News. A recent informal poll that one L.A. Times writer conducted of his colleagues showed that almost all planned to exit if the Kochs took control (and that included sportswriters and arts writers). Those who stayed would have to grapple with how to cover politics and elections in which their paper’s owners played a leading role. It’s also unclear who in Los Angeles, one of the nation’s most liberal cities, would actually want to read such a paper, but then the Kochs don’t appear to view this as a money-making venture.

Harold Meyerson, The Washington Post

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