By: Dave Astor The Tribune Co. may sell off some of Tribune Media Services as part of an effort to improve the parent firm's short-term liquidity, according to a Chicago Tribune story posted today.
Tribune writer Phil Rosenthal reported that at least two potential buyers have expressed interested in TMS' TV listings division.
"We're providing certain information to parties who have expressed interest in some of the assets owned by TMS, but we have made no decision concerning those assets, and in no event would we sell all of TMS," a Tribune Co. spokesman told Rosenthal.
The story noted that the Tribune Co. has been heavily leveraged since going private last year and that there have been revenue declines in its publishing division.
Tribune Co. recently agreed to sell control of Newsday in Melville, N.Y., to Cablevision for $650 million. Also on the block are other assets such as the Chicago Cubs and Wrigley Field.
In addition to syndicating TV listings, TMS also distributes columnists such as Arianna Huffington, Garrison Keillor, Leonard Pitts Jr., and Cal Thomas; editorial cartoonists such as Matt Davies, Walt Handelsman, and David Horsey; various comics; and more. TMS markets McClatchy-Tribune Information Services, too.
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