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Bloomberg: Tribune Hires JPMorgan, Evercore to Explore Sale

February 27, 2013, 07:11 AM
Filed Under: Industry News

Bloomberg reports that Tribune Co. (TRBAA), the publisher that emerged from bankruptcy at the end of last year, said it hired JPMorgan Chase & Co. (JPM) and Evercore Partners Inc. (EVR) as financial advisers after receiving unsolicited interest in its newspapers.

The advisers will help Tribune consider all of its options and determine whether the interest is credible, according to an e-mailed statement yesterday from Gary Weitman, a Tribune spokesman. Jimmy Lee, JPMorgan’s vice chairman, will advise Tribune, according to a person familiar with the matter who asked not to be named because the agreement is private.

In addition to the Chicago Tribune and the Los Angeles Times, the company owns six other daily U.S. newspapers. Tribune plans to focus on its more lucrative television business and hired Peter Liguori, formerly of Fox Broadcasting and Discovery Communications Inc., as its chief executive officer in January.

View the entire Bloomberg article.

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