By: E&P Staff
Following yesterday’s announcement that the Tribune company had accepted a buyout offer from Chicago real estate mogul Sam Zell, newspapers and critics around the country had plenty to say about the deal for today’s editions. Here are a few articles of note about the sale.
— Deadline Hollywood: Hollywood mogul David Geffen has been talking to Zell about running the Los Angeles Times as some kind of joint venture.
— USA Today: Outsiders — including Broad and Burkle — still have an opening if they want to offer a better deal. The agreement with Zell allows Tribune to still consider other proposals.
— Los Angeles Times: Inside and outside The Times’ newsroom, Angelenos assume a wait-and-see attitude.
— New York Times: Zell, who has never owned a newspaper before, insists that his interest in Tribune is not editorial but economic.
— Chicago Tribune: The matchup of Tribune and Zell couldn’t be more improbable.
— Los Angeles Times: When it comes to the journalism the Los Angeles Times and the company’s other newspapers offer their readers, this whole arrangement is pretty much a shot in the dark, writes Tim Rutten.
— Newsday: Financial experts are worried about the company’s ability to adjust to economic changes.
— Advertising Age: Tribune’s top Washington executive, Shaun Sheehan, said it’s a “potential possibilty” that the sale today will mean the company will now require a FCC waiver to keep its Chicago holdings together.
— New York Times: The Los Angeles Times was nothing but trouble for the Tribune Company, and it may prove even more of a challenge for its new owner.
— Tribune Watch: As the Tribune Company drama unfolds, the Newspaper Guild-CWA stands ready to serve as the voice of future employee owners at its various locations.
— New York Times: Taking Tribune private will take pressure off quarterly earnings, but other challenges will remain, writes David Carr.
— Washington Post: Zell’s purchase may herald a new era of press lords, 100 years after Pulitzer, Hearst and the Chicago Tribune’s own monarch, Col. Robert R. McCormick, whose influential reign at the helm of the Tribune lasted a half a century.
— Los Angeles Times: The Tribune deal faces obstacles, the biggest of which could be winning regulatory approval from the Federal Communications Commission.
— Wall Street Journal (subscription req.): Employee control has its downsides.
— Deadline Hollywood: As a senior editor told [Nikki Finke], “You can argue it both ways. People say, well, anything’s better than what we’ve got now. Then there are others who say, wrong, wrong wrong, because things can always get worse.”