November 12, 2015
Tribune Publishing, which owns the L.A. Times, offered to loan $3 million to the bankrupt owner of a rival Southern California newspaper, a move that could set the stage for a bidding war.
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Tribune Parent Offers to Finance Media Firm in Chapter 11
The owner of the Chicago Tribune and the Los Angeles Times offered last week to loan $3 million to the bankrupt owner of a rival Southern California newspaper, a move that could set the stage for a bidding war. Chicago-based Tribune Publishing told a federal bankruptcy judge it's willing to loan Freedom Communications the money for day-to-day operations, with the money counting in any bid Tribune might make for Freedom's assets.