Doug Manchester, the owner of the U-T San Diego (and the North County Times) is now officially going after the Tribune Company, according to a story on KPBS.com. The Tribune Company owns The Chicago Tribune, The Baltimore Sun, The Hartford Courant and more importantly, the LA Times.
“We certainly are going to look at it,” Manchester said. “We are looking at it, yes. I would like to, yes.” . . Tribune spokesman Gary Weitman refused to comment on what he called speculation regarding the company and its assets. The Tribune’s owners are two hedge funds and JP Morgan Chase. U-T CEO John Lynch said recently that the paper’s ownership was interested in acquiring a company that would give it a national footprint. . . “We believe our business model will work and create great economic benefit to all of the investors,” Lynch said.
Media companies are cheap right now. For businessmen with another stream of revenue and the desire to give themselves good press, owning newspapers apparently makes sense.