News Corp in talks to buy Tribune, LA Times: report
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CHICAGO (Sun-Times Media Wire) -
Media mogul Rupert Murdoch may be looking to buy the Chicago Tribune and the Los Angeles Times as the parent company for the two newspapers attempts to exit from bankruptcy, according to a report.
The Los Angeles Times reports that executives from Murdoch's News Corp. are in "preliminary talks" with Tribune Co.'s debt holders, who are expected to become majority owners when the company emerges from bankruptcy.
Murdoch is the chairman and the chief executive of News Corp., which is the parent company of media properties such as the New York Post, Fox News, the Wall Street Journal and the Times of London.
A Tribune Co. spokesman declined to comment on the Los Angeles Times report. Representatives from News Corp did not return calls for comment late Friday.
Other potential suitors interested in acquiring the Los Angeles Times are Austin Beutner, an ex-duty mayor of Los Angeles and a former venture capitalist; Aaron Kushner, who arranged the $400 million purchase of the Orange County Register and six other papers; and Doug Manchester, who bought the Union Tribune for $110.
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Illinois' congressional delegation has asked President Obama to add 16 Illinois counties to the list of those eligible to receive disaster aid after last month's flooding.
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