The Tribune company, the owner of the Los Angeles Times and the Burbank Leader, emerged from a lengthy and expensive bankruptcy on December 31, 2012 — and now there is even more talk about selling assets — especially the newspapers.The Tribune has new owners and a new board of directors.
The Tribune has in its financial portfolio eight major newspapers, among them the L.A. Times and Chicago Tribune, and several smaller papers ,and some websites as well as 23 TV stations — including KTLA in Los Angeles. There are indications that new owners will keep the TV stations and get rid of the newspapers.
On New Year’s Day, an L.A. Times article talked about the company’s money-making TV unit and the future of its struggling newspapers: “Analysts believe that Tribune’s eight newspapers, which include the Los Angeles Times and Chicago Tribune, will eventually be sold.” The Leader is one of the Times Community Newspapers owned by the L.A. Times. On the Chicago Tribune website it’s being reported: “Eventually, all the assets are expected to be sold, according to the new owners.”
So far, not much reporting about this in the Leader, but there’s plenty of talk around town about its uncertain future. Some long time residents want to see the Leader returned to the golden days when it was a daily called the Burbank Daily Review. I’m told, back then, the paper was packed with news about Burbank, not Glendale or some other community.
A lot of folks are worried that in the deal-making by Tribune’s new owners Burbank may end up without a community newspaper! Recently, I spoke with a Leader employee who is worried about losing a steady paycheck if the Leader gets a new owner. Oh, by the way, did you notice the Burbank Leader news racks are disappearing from our streets. The one at Riverside Drive and Mariposa Street in the Rancho District, shown in the photo above, has been removed from next to the Daily News.
Not a good sign for a newspaper serious about being, ah, a newspaper.