The Chandler family, which long owned The Los Angeles Times, has begun holding talks with several private equity firms about forming a consortium to bid on part of the Tribune Company, people briefed on the discussions said yesterday, the New York Times reports.

The talks come six months after the Chandlers pressed to put the Tribune up for sale. The family, which became a large shareholder in Tribune when it sold Times Mirror to the company, has been critical of Tribune’s management and its slumping stock price.

When the Chandlers first clashed with Tribune management, the family had no interest in buying the company, people involved in the talks said.

Now, frustrated with the muted interest that the auction of Tribune has so far generated, the Chandlers are exploring the idea of leading a private equity consortium as a way to either create value in a leveraged buyout of the assets or to possibly start a bidding war.

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