Orange County Register owner eyes Tribune papers

Published on NewsOK Modified: December 27, 2012 at 8:59 pm •  Published: December 27, 2012
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Tribune filed for bankruptcy protection in December 2008, less than a year after a debt-laden buyout engineered by Sam Zell. Its new owners include JPMorgan Chase & Co., debt specialist Angelo, Gordon & Co., and hedge fund Oaktree Capital Management.

Kushner said he expects the Tribune's new owners would sell the newspapers in a single package.

"There's a tremendous amount of infrastructure that's shared among the newspapers, and they have been together, with the exception of the LA Times, for a long time," Kushner said. "Disassembling them in an auction sort of a way or a process may be achievable, but our sense is it would end up resulting in significantly less for the current owners of the Tribune Co."

Freedom recently sold The Gazette in Colorado Springs, Colo. Kushner signaled he was open to selling Freedom's five smaller newspapers in California and Arizona.

"We wouldn't have bought them if we didn't love them. That said, if we find that there is an owner that can do an even better job than us with them, we'll talk with them," he said.