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Shop Talk – January 8
Tue January 8, 2013
Newspaper to Focus on Broadcasting
The panelists talk about plans by the Tribune Company to sell its newspapers – including the Chicago Tribune – and focus on its cable television network.
The report from Reuters said the company’s Board of Directors includes many former TV executives, who are expected to soon begin the process of selling most, if not all, of the Tribune-owned newspapers as the company emerges from Chapter 11 bankruptcy.
The report also stated the newspaper industry could be reshaped by the likes of Warren Buffett and Rupert Murdoch. The Shop Talk panelists hope the Chicago Tribune does not end up in Murdoch’s hands.
The panelists also decision by seven Tribune newspapers to drop the Associated Press in favor of Thomson Reuters. The change will save the newspapers a considerable amount of money. The move was reported by Robert Feder in Time Out Chicago.