Rupert Murdoch eyes LA Times, Chicago Tribune: report
22 Oct 2012
Media baron Rupert Murdoch's News Corp is said to be in talks to acquire two of the largest US newspapers, Los Angeles Times and Chicago Tribune, from the creditors of their bankrupt owner Tribune Co.
Two top executives of News Corp have had preliminary talks with the two investment firms and a bank, which are Tribune's creditors for acquiring the two newspapers, Los Angeles Times reported on Saturday, citing sources familiar with the situation.
However, they said the talks were in early stages, and there was no certainty about a possible deal.
Tribune Co, News Corp and Oaktree Capital Management, declined to comment on the matter.
News Corp said on Saturday that reports about its discussions with Tribune Co are "wholly inaccurate."
With the acquisition of Los Angeles Times and Chicago Tribune, News Corp, the world's largest media company, aims to strengthen its presence in the country's major newspaper markets. In the US, it already owns the Wall Street Journal and the Dow Jones Newswires.
