Tribune takes a cue from News Corp. in planned newspaper spinoff

Tribune takes a cue from News Corp. in planned newspaper spinoff

Tribune Co.'s plan to spin off its newspapers, including the Los Angeles Times and Chicago Tribune, into a stand-alone publishing company.
Tribune Co.’s plan to spin off its newspapers, including the Los Angeles Times and Chicago Tribune, into a stand-alone publishing company.

[LOS ANGELES TIMES]

Tribune Co.‘s plan to spin off its newspapers, including the Los Angeles Times and Chicago Tribune, into a stand-alone publishing company follows in the footsteps of Rupert Murdoch‘s News Corp. — and other media companies.

Nearly two weeks ago, News Corp. divided into two separate companies: 21st Century Fox and the much smaller publishing group News Corp. 21st Century Fox contains the hugely profitable television networks, including Fox News Channeland Fox Broadcasting, 20th Century Fox movie studio and interests in satellite TV services around the globe.

Chicago-based Tribune said Wednesday it would separate its eight daily newspapers, which include the Baltimore Sun, Orlando Sentinel, Sun-Sentinel of South Florida, Hartford Courant, the Morning Call in Pennsylvania and the Daily Press in Virginia, to create a new company called Tribune Publishing.

Read more about the shake up at Tribune Co. at the Los Angeles Times.