Tribune Company Wants To Bail On Dinosaur Newspaper Biz
Tribune Co. has hired investment bankers to advise the media company on the potential sale of its newspaper publishing unit.
The company announced that it has retained JPMorgan Chase & Co. and Evercore Partners to assess whether to sell the division that includes the Los Angeles Times, Chicago Tribune and six other daily newspapers.
The laugh line is that they're pretending that there is a lot of interest. From the 1940s, apparently. The Sunday LA Times, which I enjoyed reading in a past I barely remember, is expensive and so thin you can read another newspaper through it in the right light.