Tuesday, January 16, 2007

Morning Call Parent Tribune Co. Taking Bids Tomorrow

Today's New York Times has an interesting piece focused on likely Tribune Co. bidding partners (and billionaires) Eli Broad and Ron Burkle--two men who both claim to care about newspapers' civic duty. The same claim is made by another likely bidder, David Geffen, the music mogul. The handful of private equity firms hovering around, it is safe to assume, would be ruthless in their profit-maximization.

What will a sale to one (or a pair) of these billionaires mean for journalism at the Call? Though all three assert that profit margins will be reasonable--and not at the disastrous 20+ percent that is currently expected at publicly traded newspaper companies--they may turn around and sell the Call and other papers. The reason is that all three are interested mainly in Tribune's flagship, the LA Times.

Stay tuned. The Call will almost certainly have new owners within a year--and almost any owner would be better than Tribune.

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