The shareholders are biting back.
Onésimo Alvarez-Moro
See article:
In a public filing, the family calls for the sale of TV assets and cites 'disastrous' decisions.
The former owners of the Los Angeles Times escalated their attack on the newspaper's parent company Wednesday, with a breakup or sale of Tribune Co. a possible outcome.
In a regulatory filing, representatives of the Chandler family, which holds more than 12% of Tribune, called for radical changes at the Chicago-based company after what they characterized as "disastrous" decisions and a nearly 40% decline in the stock price in the last two years.
In a blistering letter sent to Tribune directors that was included in the filing, the Chandlers demanded that the company spin off television assets, including its 26 stations, and consider selling some or all of its 11 newspapers.
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