Tribune Publishing Says It Isn't in Talks to Sell Company

Tribune Publishing Co. said in a statement Monday that it is not in talks to sell the company, denying reports that surfaced in recent days.

"Tribune Publishing remains committed to its strategy and transformation plan and is not engaged in discussions or a process to sell the company," the company's management said in an email to employees that was disclosed in a regulatory filing.

Politico reported Friday that Apollo Global Management had approached Tribune, which includes the Chicago Tribune and Los Angeles Times newspapers, about a possible purchase of the company. A person close to the private-equity firm told The Wall Street Journal it wasn't involved.

The speculation about a possible sale was triggered Friday when Rupert Murdoch, the executive chairman of News Corp and 21st Century Fox, said on Twitter that there was "strong word" that the newspaper group was to be bought by a big Wall Street firm, with the Los Angeles Times being sold to a group led by California philanthropist Eli Broad. The Wall Street Journal is owned by News Corp.

Mr. Broad declined to comment. A spokesman for Mr. Murdoch also declined to comment.

In a Nov. 16 regulatory filing, Tribune stated that its largest shareholder, Oaktree Capital, was prepared to sell all or some of its 17.9% stake in the publishing group. A person familiar with the matter said the announcement was triggered by the end of the lockup period following its spinoff last year from the broadcast business, Tribune Media.

Since the spinoff, Tribune Publishing shares had declined as much as 68%. The shares rebounded 8.4% in early trading Monday.

Write to Lukas I. Alpert at lukas.alpert@wsj.com

Subscribe to WSJ: http://online.wsj.com?mod=djnwires

(END) Dow Jones Newswires

November 30, 2015 11:55 ET (16:55 GMT)

Oaktree Capital (NYSE:OAK)
過去株価チャート
から 6 2024 まで 7 2024