June 17, 2013 |
Tribune Co., parent of the Los Angeles Times, reported that earnings have fallen steeply over the past two years as print advertising continues to erode in a troubled newspaper market. The company on Monday reported net income of $422.5 million for the 12 months ended Dec. 31. That's down 5.7% from $447.9 million in 2011 and off 20.7% from $533 million in 2010. The newspaper unit's ad revenue skidded almost $200 million, or 14.5%, over the last two years. It declined $84 million, or 7%, last year, after falling 8% in 2011.
June 6, 2013 |
A former chairman of the Federal Communications Commission said rules limiting common ownership of newspapers and television stations in the same market should be gutted -- even if it clears the way for media mogul Rupert Murdoch to control more news outlets including the Los Angeles Times. Reed Hundt, Democratic chairman of the FCC during much of the Clinton administration and a self-confessed progressive, said in a speech Wednesday at UCLA that the long-standing rule is "perverse" and needs to be thrown out. Noting the growth of new platforms for news and other content since the rule was created in the 1970s and the difficult economics of the newspaper industry, Hundt said "if a TV station wants to help a newspaper survive, the FCC should welcome that initiative.
May 29, 2013 |
About 200 protesters rallied Wednesday outside the headquarters of the Los Angeles Times to protest a potential sale of the newspaper to the politically conservative Koch brothers. The rally was one of a dozen nationwide at media properties owned by Tribune Co., which is considering selling The Times and seven other daily newspapers after emerging from bankruptcy late last year. Activists are seeking to pressure Tribune not to sell the papers to Charles and David Koch , billionaire siblings who fund a range of conservative causes.
May 23, 2013 |
About 100 activists rallied in Beverly Hills on Thursday evening to protest a potential sale of the Los Angeles Times and other Tribune Co. newspapers to the politically conservative Koch brothers. Part of the group -- a collection of environmentalists, union activists, retirees, Times subscribers and a Jewish rabbi -- took their effort on a more than half-mile march to the home of Tribune Chairman Bruce Karsh. Karsh is president and co-founder of Oaktree Capital Management, a Los Angeles investment firm that is the single largest Tribune owner with nearly 23% of the stock.
May 15, 2013 |
About 300 labor union members and other activists staged a demonstration to protest the potential sale of the Los Angeles Times to the politically conservative Koch brothers. Demonstrators marched outside the downtown L.A. headquarters of Oaktree Capital Management, an investment firm that holds a roughly 20% stake in Tribune Co., which owns The Times. Protesters alleged that Charles and David Koch, billionaire siblings who fund conservative causes, want to buy The Times in order to skew the paper's coverage to favor anti-union objectives.
May 14, 2013 |
WASHINGTON - Atty. Gen. Eric H. Holder Jr. on Tuesday strongly defended the criminal investigation into the leak of classified details about a successful U.S. undercover operation, calling it "within the top two or three most serious leaks" of government-protected information since he became a federal prosecutor more than 35 years ago. The attorney general said he had recused himself earlier from overseeing the investigation into who told the...
CALIFORNIA | LOCAL
May 8, 2013 |
SACRAMENTO - California legislative leaders and 10 public employee unions announced opposition Wednesday to any sale of the Los Angeles Times and other Tribune Co. newspapers to a pair of wealthy brothers who fund conservative causes. In a letter dated Tuesday to Bruce Karsh, president of Oaktree Capital Management, the largest shareholder in Tribune Co., and chairman of its board of directors, the unions said David and Charles Koch are "anti-labor, anti-environment, anti-public education and anti-immigrant.
CALIFORNIA | LOCAL
May 8, 2013 |
SACRAMENTO - California legislative leaders and 10 public employee unions announced opposition Wednesday to any sale of the Los Angeles Times and other Tribune Co. newspapers to a pair of wealthy brothers who fund conservative causes throughout the country. In a letter dated Tuesday to Bruce Karsh, president of Oaktree Capital Management, the largest shareholder in Tribune Co., and chairman of its Board of Directors, the unions said David and Charles Koch are “anti-labor, anti-environment, anti-public education and anti-immigrant.” The unions noted that some Oaktree assets come from public pension funds and warned that a sale to the Koch brothers “would be adverse to the retirement security of public employees whose pension funds you are responsible for managing and investing.” The California Public Employee Retirement System is among the funds that invests with Oaktree.