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Rupert Murdoch's News Corp. is looking to acquire the Los Angeles Times and Chicago Tribune, according to a story today (Oct. 20) in the Los Angeles Times. Chicago-based Tribune Company, which is expected to emerge from bankruptcy soon, owns both papers, along with other properties. Tribune Company will fall under the control of debt holders -- two investment firms and a bank, notes the story in the LA Times. Murdoch's News Corp. is talking to those debt holders. "Acquiring the Los Angeles Times would give [Murdoch] strong footholds in the nation's three largest media markets: New York, Los Angeles, and Chicago," says the Times. Murdoch's News Corp owns the Wall Street Journal and Times of London, among a number of properties.
Rupert Murdoch's News Corp. is looking to acquire the Los Angeles Times and Chicago Tribune, according to a story today (Oct. 20) in the Los Angeles Times. Chicago-based Tribune Company, which is expected to emerge from bankruptcy soon, owns both papers, along with other properties. Tribune Company will fall under the control of debt holders -- two investment firms and a bank, notes the story in the LA Times. Murdoch's News Corp. is talking to those debt holders. "Acquiring the Los Angeles Times would give [Murdoch] strong footholds in the nation's three largest media markets: New York, Los Angeles, and Chicago," says the Times. Murdoch's News Corp owns the Wall Street Journal and Times of London, among a number of properties.