Tribune splits TV and papers
July 11, 2013
After months of trying to sell its newspapers, Tribune has announced plans to spin off its publishing business from its broadcast operations, shifting its focus further to television following similar moves by Time Warner and News Corp.
The news comes a week after the Chicago-based company announced its $2.7 billion acquisition of 19 stations from Local TV, making it the largest US commercial TV station owner.
Tribune Publishing, which will house the company’s eight major newspapers, including the Chicago Tribune and the Los Angeles Times, will operate independently of the broadcast arm, which will retain the Tribune name.