A Clash of Newspaper Legacies (Dinosaur Media Internal Food Fight Alert)

The New York Times ^ | June 14, 2006 | RICHARD SIKLOS

[Doctor Raoul]

Raoul's First Law of Journalism
BIAS = LAYOFFS

[Milhous]

We got MSM starting to bleed bad news 24X7. LOL. Update 7 offers up ever greater FReeper schadenfrauden sustenance. :)) Looks like TV broadcasting wants to race fishwrap to the bottom.

Tribune's Chandler Family Calls for Company Breakup (Update7)

. . . Sales Decline

Revenue at Tribune fell 2 percent last year to $5.6 billion, and analysts expect sales to be little changed this year. Net income, after falling 4 percent last year to $557 million, is set to rise 4 percent in 2006, according to analysts surveyed by Thomson Financial.

The broadcast division reported a 6.1 percent decline in sales in 2005, compared with a 0.8 percent drop at the print unit.

FitzSimons said on May 30 he planned to sell assets and trim costs to bolster profit. He also announced the buyback plan.

The $8 billion purchase of Times Mirror in 2000 was the biggest in Tribune's history, which dates back to the 1847 creation of the Chicago Daily Tribune newspaper. Tribune subsequently expanded into broadcasting in 1924 with the start of radio station WGN and bought the Cubs from chewing-gum heir William Wrigley in 1981.

Newspapers and broadcasting became the focus of Tribune's expansion in the 1990s, with the company promoting the Cubs on its Chicago television and radio stations.