Friday, August 12, 2005

Another Bland Tribune Executive Interview On Future Of L.A. Times

Written from Telegraph Creek, BC==

Scott Smith. head of Tribune Publishing Services, has given another of these bland, unsatisfactory interviews on the future of the L.A. Times in the Tribune organization.

No, he says, the Times is not for sale. He implies weakly the cost cutting just may be on a weak hold for awhile.

What is necessary?

The Tribune company ought to sell or shut down its weaker papers, like the Chicago Tribune and put the proceeds into the Times.

Los Angelenos ought to be appointed to the Tribune board.

Remaining board members should be given 90 days to move to L.A. and required to live there from now on.

The name of the organization should be changed to Times-Mirror.

The CEO should contribute his salary for the foreseeable future to building up the Times staff and increasing the news hole.

California's state flag should fly over all Tribune properties.

The newly constituted Times-Mirror Board ought to beg forgivness from the people of Los Angeles.

Then, when Scott Smith gives another interview to the Sun Times, he will sound much better, I'm sure.


Anonymous Anonymous said...

Why would they shut down the Chicago Tribune? It, apparently, makes a profit, something the Los Angeles Times hasn't done in twenty years.

When the Tribune bought the Times, they assumed a reported $2.5 billion in Times debt. And that was after five years of hefty layoffs and selling off everything but the Times-Mirror building, and apparently that was considered once.

The fact is, despite delusions, the Tribune bailed out the Los Angeles Times.

LA Weekly March 17, 2000:
"Tribune’s market capitalization — its worth on Wall Street — is $8.8 billion compared to $2.9 billion for Times Mirror. And Tribune reported $1.48 billion in profits last year compared to $259 million for Times Mirror. Moreover, Times Mirror’s healthy profit margin last year of 18.2 percent just doesn’t cut it next to Tribune’s 29.2 percent."


8/12/2005 10:51 PM  

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