UPDATE: Tribune Confirms Plan To Explore Sale Of Its Newspapers

UPDATE, 2:30 PM: Tribune says that it has hired JP Morgan Chase and Evercore to investigate the market. “There is a lot of interest in our newspapers, which we haven’t solicited,” SVP Gary Weitman says. “Hiring outside financial advisers will help us determine whether that interest is credible, allow us to consider all of our options, and fulfill our fiduciary responsibility to our shareholders and employees.”

PREVIOUS, 10:43 AM: It’s not a surprise that the company, which emerged from Chapter 11 bankruptcy at the end of last year, is looking to sell its publishing assets. These include the Los Angeles Times and Chicago Tribune — Rupert Murdoch is known to be interested in those papers — as well as the Baltimore Sun, Orlando Sentinal and Hartford Courant. CNBC reports today that Tribune Co’s Career Builder website likely would be included in a sale, and that Evercore and JPMorgan will be the bankers to lead an auction over the coming weeks. Tribune last month hired former Fox and Discovery exec Peter Liguori as CEO; the company has 23 TV stations.

This article was printed from https://deadline.com/2013/02/tribune-moving-forward-with-plan-to-sell-newspapers-cnbc-440418/