12/11/2012 12:44 pm ET Updated Feb 10, 2013

Tribune Looking To Sell Newspapers: Bloomberg

The Tribune Company is seeking to sell some of its newspapers as it prepares to exit bankruptcy, Bloomberg reported on Tuesday.

The company currently owns eight newspapers, including its flagship Chicago Tribune, the Los Angeles Times and the Baltimore Sun. It has been through a very troubled history recently, with corporate scandals, massive debts and a lengthy bankruptcy process from which it is about to emerge.

Bloomberg said that Tribune is talking to bankers about a possible sale, though it might siphon off its smaller titles first.

Rupert Murdoch has reportedly been very interested in buying the Tribune and the Times, though many local investors are also eager to snap up the Los Angeles title. Bloomberg said that he plans to take a "close look" at the papers once they become available.



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