Tribune Publishing disputed Rupert Murdoch’s claim on Monday that it’s in negotiations to sell the company.
An email to staff addressed reports that Tribune Publish would be bought by a Wall Street firm and the the Los Angeles Times would be bought by philanthropist Eli Broad.
Tribune is “not engaged in discussion or a process to sell the company,” it said in the staff memo.
“As our board of directors noted earlier this fall, and as we articulated in our November earnings call, Tribune Publishing remains committed to its strategy and transformation plan,” the company added.
Tribune was approached recently by Apollo Global Management, telling board chair Eddy Hartenstein it was interested in buying the company, according to industry analyst Ken Doctor.
But Tribune has been “non responsive” to overtures by the management company, declining to schedule meetings, Doctor reported.
Read original story Tribune Publishing Disputes Rupert Murdoch’s Claim It’s Selling Company At TheWrap