It’s a scenario that has been speculated about by various L.A. Times observers. Acceding to the Tribune Company’s desire to sell all of the Tribune Publishing newspapers together, billionaire Eli Broad partners with a third party, whereupon the newspapers are acquired and then split. With Broad holding on to the L.A. Times and San Diego Tribune.
Late this afternoon, the other individual most often mentioned as a logical Times savior – Rupert Murdoch – tweeted what he’s hearing on that front:
Strong word Tribune newspaper group to be bought by big Wall St firm, LA Times to go to philanthropist Eli Broad and local group.
— Rupert Murdoch (@rupertmurdoch) November 27, 2015
Imagining for a moment that a deal of this sort comes to pass, the mind reels:
– Does Austin Beutner return as editor and publisher?
– Does the Wall Street-backed deal triangulate along the way with Freedom Communications Inc.’s recent bankruptcy filing, so as to fold the Orange County Register into Broad’s side of the deal also?
– Will some of the reporters and editors who took the recent buyout consider returning in some fashion?
And more immediately, how will Murdoch’s tweet affect the Tribune Publishing stock price? Developing.