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The Tribune Company has declined to either accept or reject David Geffen’s $2 billion, all-cash offer for the Los Angeles Times, opting instead to continue seeking offers for the company as a whole.
Several private equity firms, along with newspaper giant Gannett Co. and an alliance made up of Los Angeles billionaires Eli Broad and Ron Burkle, have all expressed interest in owning the company. The media conglomerate has said it will not consider Geffen’s offer until it has fielded all offers, writes the Los Angeles Times.
Some observers have noted that the tepid interest in Tribune may mean the company will be forced to sell of individual assets such as the Times. The company also owns 23 television stations, The Chicago Tribune, and the Chicago Cubs.
The Chandler family, which controls 20 percent of Tribune, is also said to be considering a joint bid for the company.
Marketers have unleashed their holiday promotions earlier than ever this year, with many hitting the stores well before Thanksgiving. But Sirius XM isn’t launching most of its 24-hour holiday music channels until turkey day or later.
The newly merged company…
PC Magazine will stop publishing a print edition with its January issue. The magazine will shift operations entirely online.
The magazine will be sent via email with a link to the current edition. It will continue to look like the…
The switch to digital television arrives in less than three months, and to remind consumers of the transition, the National Association of Broadcasters is running a campaign across PumpTop TV’s network of screens at gas stations.
The spot began airing…
Following an inability to agree with studios on payment for shows distributed online, the Screen Actors Guild has decided to pursue strike authorization from its members in a move the Alliance of Motion Pictures and Television Producers calls “bizarre.”
Should…
Getting real-time, 24/7 online access to company news and reaching responsive and efficient PR representatives still rate high on journalists’ wish-lists, but reporters are increasingly sourcing stories from new forms of media as well, according to research from Bulldog Reporter and TEKgroup…
Through the first half of the year, automakers have slimmed their ad spending by 10% to $6.1 billion, according to Nielsen Monitor Plus.
General Motors slipped 6% to $1.2 billion, while Ford Motor cut ad spend by 22% to $954…
