The owner of the Los Angeles Times, Chicago Tribune and other newspapers says it expects a buyout offer to cut its staff by 7 percent.
US media giant Tribune Co. said Wednesday it would slash 700 jobs at its newspapers including the Los Angeles Times and Chicago Tribune, to cope with the industry's slump.
The Koch brothers are dropping their pursuit of newspapers owned by the Tribune Co. of Chicago.
US newspapers are increasingly turning to deep-pocketed white knights to keep them alive as free news on the Internet hijacks readers and erodes profits.
With a sale likely of a prominent group of US newspapers, the interest of a potential buyer tied to right-wing causes has galvanized opponents fearing the dailies could become political tools.
Some of America's largest and most storied metropolitan newspapers are up for sale, in a sign of the turmoil facing an industry struggling to find a business model in the digital age.
(AP)—Tribune Company says it has emerged from a Chapter 11 restructuring more than four years after the media company sought bankruptcy protection.
In spring 2011, Groupon Inc. was said to be worth as much as $25 billion - an amazing valuation for a company that still isn't four years old.
The Los Angeles Times said Friday that it will begin charging online readers next month, the latest major US newspaper to require a subscription to its website.
Lee Enterprises, one of the largest newspaper chains in the United States, filed for bankruptcy on Monday, the latest victim of the crisis gripping the US newspaper industry.