Tribune CEO Defends Management of L.A. Times

TRIBUNE CEO DEFENDS MANAGEMENT OF LA TIMES
[SOURCE: Wall Street Journal, AUTHOR: Sarah Ellison sarah.ellison@wsj.com]
Tribune Co. CEO Dennis FitzSimons, responding to a letter from some of the most powerful civic leaders in Los Angeles, defended the company's management of the Los Angeles Times and gave no indication the company was willing to consider the newspaper's sale. Mr. FitzSimons's response comes amid rising tension between Tribune management and the newspaper's editor and publisher, both of whom have resisted company pressure to make further layoffs. The standoff could force the departure of Dean Baquet, editor and Jeffrey M. Johnson, publisher. Tribune has several reasons not to sell the newspaper. Chief among them is that a sale could result in a big tax hit. The Times contributes a significant portion of revenue and content to Tribune's newspaper group, and it is a major contributor to the company's Careerbuilder Web site, which is also owned by McClatchy Co. and Gannett Co. The Times is the fourth-largest newspaper in the country by circulation and makes up nearly a quarter of Tribune's publishing division, which includes the Chicago Tribune and New York's Newsday. Tribune's newspapers account for about three-quarters of the company's revenue.
http://online.wsj.com/article/SB115863443849467180.html?mod=todays_us_page_one
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* The Times, Tribune and the City
http://www.latimes.com/news/printedition/opinion/la-oe-letterprecede19sep19,1,7427833.story?coll=la-news-comment
* Tribune Defends Its Ownership of The Times
http://www.latimes.com/business/printedition/la-fi-tribune19sep19,1,7918688.story?coll=la-headlines-pe-business
http://www.latimes.com/business/printedition/la-fi-tribune19sep19_pdf,1,7258797.acrobat?coll=la-headlines-pe-business