Tribune Co., already under pressure from its largest shareholder, the Chandler family, is facing a growing challenge on another front: a push by some rich and powerful citizens in Los Angeles for a sale of the Los Angeles Times to local interests, the Wall Street Journal reports.
The clamor over the nation's fourth-largest newspaper comes ahead of a Tribune board meeting Thursday, at which Chief Executive Officer Dennis FitzSimons is expected to deliver on a directive from the board to present a plan for the future of Tribune. Mr. FitzSimons and other executives have been preparing the plan even as they negotiate with the Chandlers, who formerly owned the Los Angeles Times, over the value of two complex partnerships that set off a bitter public battle between the family and Tribune management in June.
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