Tribune Denies It’s In Talks To Sell After Rupert Murdoch Rumor

30 Nov 2015 | Author: | No comments yet »

Tribune Publishing Says It Isn’t in Talks to Sell Company.

“Tribune Publishing remains committed to its strategy and transformation plan and is not engaged in discussions or a process to sell the company,” the company’s management said in an email to employees that was disclosed in a regulatory filing. Politico reported Friday that Apollo Global Management APO -0.09 % had approached Tribune, which includes the Chicago Tribune and Los Angeles Times newspapers, about a possible purchase of the company.

In a Nov. 16 regulatory filing, Tribune stated that its largest shareholder, Oaktree Capital, OAK -0.81 % was prepared to sell all or some of its 17.9% stake in the publishing group. A person familiar with the matter said the announcement was triggered by the end of the lockup period following its spinoff last year from the broadcast business, Tribune Media.

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