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Tribune Aims to Sell Newspaper Business
WSJ ^ | Updated February 26, 2013, 3:36 p.m. ET | y SHARON TERLEP And MERISSA MARR

Posted on 02/26/2013 1:53:01 PM PST by Ernest_at_the_Beach

Tribune Co. has enlisted investment banks to help sell its newspaper business, including the Los Angeles Times and the Chicago Tribune, people familiar with the matter said Tuesday.

(Excerpt) Read more at online.wsj.com ...


TOPICS: Business/Economy; News/Current Events; US: California; US: Illinois
KEYWORDS: media
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To: Carry_Okie
" It doesn't take an operating profit to make owning a newspaper profitable. "

How does that work (w/o gov't subsidies)?

41 posted on 02/26/2013 10:08:40 PM PST by Paladin2
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To: Paladin2
How does that work (w/o gov't subsidies)?

It is easy to manipulate the value of an asset with the power of the press simply by promoting or panning it. When government gets too democratic, manipulating majority opinion is a way to use government to manipulate asset value, whether by ginning up regulations, lawsuits, or simply calling into question product safety. Even the timing of a news release can control the degree of profit made in the stock market.

Hence, the power to manipulate public opinion is a profitable asset even if the advertising and subscription revenues do not support continuing operations. Power is effectively power for sale. Always has been.

42 posted on 02/26/2013 10:14:55 PM PST by Carry_Okie (The environment is too complex and too important to be "protected" by government.)
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To: Carry_Okie
So, an indirect profit to the owners from inside trading.

That would work, especially with immunity from prosecution from crony political manipulation.

43 posted on 02/26/2013 10:23:46 PM PST by Paladin2
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To: GeronL

Qatar will probably snap them up.


44 posted on 02/26/2013 10:26:40 PM PST by piasa (Attitude adjustments offered here free of charge)
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To: Paladin2
Look at the ability to run or spike a story when it comes to putting the screws to politicians. Think of how that could influence the permitting process, for example. One could kill or push a building project with a phone call, and with no need to even say anything direct.

Calls planner, 'We've heard about complaints about this developer before. Could you look into and make sure this deal is on the up and up?' Versus, 'Oh, he's a good guy, come on up and let's see how we can work this out.'

The difference could be in the millions. That's power. Too much power. Now you know why the Times Mirror Corporation is the second largest developer in California.

45 posted on 02/26/2013 11:29:47 PM PST by Carry_Okie (The environment is too complex and too important to be "protected" by government.)
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To: CrazyIvan

Imaging has come a long way. Communication has come a long way. Everything but humanity has come a long way. The average person is lost without all their electronics. It amusing me to no end to see a 30 something who has lost their smart phone. Total meltdown ensues.


46 posted on 02/27/2013 1:32:48 AM PST by Conspiracy Guy (I voted Republican, no Conservative was on the ballot.)
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To: Conspiracy Guy

I have to laugh at that comment- far side of thirty- losing cell phone is cause for concern No crying just blessed silence.

However when FR was down that was different story- LOL- serious withdrawal


47 posted on 02/27/2013 1:38:54 AM PST by Nailbiter
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To: Ernest_at_the_Beach

LOL!
I want everybody associated with the Democrat “mainstream” newsrooms to lose their jobs, their homes, and their families. For what they did to the former America they deserve nothing less.

Maybe the assclown who bought Newsweak will give the Tribune $5 for their newspaper business


48 posted on 02/27/2013 1:49:47 AM PST by Lancey Howard
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To: Carry_Okie

IIRC, The Times Mirror is no more, having been sold to the Tribune Co in 2000. The Chandler trusts bailed out of that entity in 2007. Recall that’s when realtor Sam Zell bought the thing and spectacularly rode Tribune to bankruptcy.

True, the Chandler-owned Times Mirror did have major real estate holdings, but I think (but do not know for sure) they were spun off from the newspaper/tv entity.

I do know that Tejon Ranch, in Kern County, still operates, but it’s an independent company. I couldn’t tell you what were the other Chandler real estate holdings, but that stuff never went with the Tribune buyout in 2000, I’m pretty sure.

http://en.wikipedia.org/wiki/Tejon_Ranch

http://www.slate.com/articles/news_and_politics/press_box/2011/06/why_newspapers_have_gone_to_hell.single.html

BTW, I agree with your argument about newspapers and power. They don’t have the clout they used to, but they’re worth something in political capital.

Otherwise, that consortium of liberals in Pennsylvania never would have bought the Philadelphia Inquirer a couple of years ago. It was, and still is, losing money, but they bought it anyway.


49 posted on 02/27/2013 1:55:47 AM PST by abb
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To: Nailbiter

Roger that. I was checking access to FR every 30 minutes. But I did remain calm. : )


50 posted on 02/27/2013 2:13:13 AM PST by Conspiracy Guy (I voted Republican, no Conservative was on the ballot.)
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To: ReleaseTheHounds

50 cents just doesn’t buy you what it used to.


51 posted on 02/27/2013 2:40:14 AM PST by Rocky (Obama is pure evil.)
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To: Ernest_at_the_Beach

Q: Why wouldn’t some conservative take it over and move it right of center?

A: Because it is a money losing albatross.


52 posted on 02/27/2013 3:10:06 AM PST by 1010RD (First, Do No Harm)
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To: abb
IIRC, The Times Mirror is no more, having been sold to the Tribune Co in 2000. The Chandler trusts bailed out of that entity in 2007. Recall that’s when realtor Sam Zell bought the thing and spectacularly rode Tribune to bankruptcy.

I knew they had sold the paper (even the article above says so). I was referring to the real estate entity as such and that was its name when I last lived there in 1987. If the Chandlers renamed it, I don't know what that would be. The last biggie was "the Inland Empire," (theirs). We all saw how that turned out in the mortgage bubble. My guess is that their next move will be in the San Joaquin Valley.

I do know that Tejon Ranch, in Kern County, still operates, but it’s an independent company.

It's under MAJOR attack from the greenies, particularly the Center for Biodiversity. They want to make it into a State Park. There will be a deal, the developers will build prestige estates and then let the State pay to mismanage "the grounds."

53 posted on 02/27/2013 7:17:26 AM PST by Carry_Okie (The environment is too complex and too important to be "protected" by government.)
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To: Carry_Okie

Watch this TV show when you get a bit of time.

http://www.pbs.org/kcet/inventing-la/index.html


54 posted on 02/27/2013 9:20:43 AM PST by abb
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To: abb
Great link, thank you. I'll watch it this weekend.

California's dark history is belied by its glowy penumbra. If you haven't read it, may I return the favor by commending Richard Trainor's book, Paradise Lost? It's abominably written, but the information on internal Democrat corruption, particularly in real estate and mega-projects, is both current and useful. It's available on Amazon.

55 posted on 02/27/2013 11:07:54 AM PST by Carry_Okie (The environment is too complex and too important to be "protected" by government.)
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To: Red Badger

Yeah, wouldn’t that be a hoot ..??

It still wouldn’t be conservative enough for me .. but even a little conservative for the people in LA might help turn that city around.


56 posted on 02/27/2013 6:39:27 PM PST by CyberAnt ("America is the greatest nation on the face of the earth".)
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To: All


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57 posted on 02/27/2013 6:41:00 PM PST by musicman (Until I see the REAL Long Form Vault BC, he's just "PRES__ENT" Obama = Without "ID")
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To: Ernest_at_the_Beach; AdmSmith; AnonymousConservative; Berosus; bigheadfred; Bockscar; ColdOne; ...

Thanks Ernest. Soros probably would like to own some newspapers.


58 posted on 02/27/2013 7:45:17 PM PST by SunkenCiv (Romney would have been worse, if you're a dumb ass.)
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