Rupert Murdoch Wrong About LA Times Sale, Tribune Announces

Tribune Publishing Co. today denied a rumor allegedly started by media mogul Rupert Murdoch that the company was on the verge of being sold, saying it is “not engaged in discussion or a process to sell the company.”

Tribune Publishing, which owns the Los Angeles Times, Chicago Tribune and several other newspapers, sent a message to its employees addressing what it called “media speculation,” the Los Angeles Times reported.

The speculation began Friday when Murdoch, co-chairman of News Corp., said on Twitter that he had heard Tribune Publishing would be sold and that The Times would be spun off to a local group involving billionaire philanthropist Eli Broad.

“While our policy is not to comment on rumors, given the source of this speculation and the fact that it has received considerable public attention, the company believes a statement to employees is warranted,” Tribune Publishing said in the message to employees.

“As our board of directors noted earlier this fall, and as we articulated in our November earnings call, Tribune Publishing remains committed to its strategy and transformation plan and is not engaged in discussions or a process to sell the company,” the statement said.

City News Service; Photo: Wikimedia Commons