Report: LA Times to Be Split Off and Sold

According to Editor & Publisher, citing several sources, the Tribune Co. is now open to selling the LA Times separate from the rest of the company:

The intrigue surrounding the troubled Tribune Co. continues to swirl. How else to explain news that L.A. mogul David Geffen sold a Jackson Pollock painting last night for a record price — about $140 million — was taken as further evidence that he intends to buy the Los Angeles Times any week now. Recently he sold two other classic paintings for $143.5 million.

Indeed, with bids for the mammoth Tribune Co. coming in far lower than expected, the media giant is telling prospective bidders that individual pieces are now available for sale, according to published reports.

That’s probably good news for the LA Times, which is currently engaged in trying to figure out a longer term digital strategy. The purported synergies of print and online newspaper and local TV affiliate ownership never materialized for Tribune, which has been subject to a highly publicized internal board fight about the future of the LA Times. Most recently the Tribune Co. fired the LA Times’ publisher Jeff Johnson who supported an editor refusing to make editorial cutbacks Tribune ordered.


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