Business News and Information

According to this Newsweek.com article, the Tribune Co. (TRB), nation's second largest newspaper owner, whose properties include the Chicago Tribune and the Los Angeles Times is part of Chicago's biggest newspaper war ever.

The Chandler family, who hold three seats on the Tribune's 11-person board, wants to sell the company or break it up. It opposes the $2 billion stock buyback currently underway. 

There could be no question of the level the war had reached when the Chandlers released a 11-pager letter accusing Tribune managers of bungling. The ocmpany countered by accusing the Chandlers of being greedy and putting their own financial interests above those of the shareholders.

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