CHICAGO
03/28/2009 05:12 am ET Updated May 25, 2011

Tribune Tower Taken Off The Market

Tribune Co. has scrapped plans to put the Tribune Tower up for sale because of cratering real estate prices and the company's late-year bankruptcy protection filing.

The media giant hired brokers last summer to sell the landmark tower as well as the Los Angeles Times' headquarters complex, known as Times Mirror Square, and had hoped to get marketing materials to prospective investors early this year. But the moribund real estate investment sales market prompted the company to shelve those plans, says Stephanie Pater, Tribune's director of real estate.

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