Selected items of interest to the media community
• Los Angeles Times and Chicago Tribune Most Likely to Attract ‘Vanity Buyers’
June 16, 2012
Tribune Co. begins its last big court fight today, one of two steps remaining before the publisher exits bankruptcy into a newspaper market where values have dropped by half.
After more than three years, the company is in the final months of its bankruptcy case in Wilmington, Del. When it leaves court protection it will have new owners, including Tribune's senior lenders, JPMorgan Chase, and hedge funds Oaktree Capital Management and Angelo, Gordon & Co.
Should they decide to sell some of Tribune's assets they will confront a newspaper market that's beset by lower circulation and advertising prices and increased internet competition. Tribune owns the Los Angeles Times, the Chicago Tribune, TV and radio stations in both those markets and investments in cable channels.
Read the full article from AdAge here.