MUMBAI: Media conglomerate News Corp has denied that it is in talks with Tribune Co or its debt debt holders to buy Chicago Tribune and Los Angeles Times.
Denying media reports that News Corp was closing in on the two newspapers, the company's spokeswomen Julie Henderson said: "Reports that News Corp is in discussions with Tribune of the L.A. Times are wholly inaccurate."
According to media reports, News Corp Chairman and CEO Rupert Murdoch was in the process on buying Los Angeles Times and Chicago Tribune from its financially struggling owner Tribune Co to bolster his print business, which will be separated into a new division.
The company was said to be is in early talks with Tribune Co debt holders which includes hedge fund Oaktree Capital. News Corp, which has Wall Street Journal and USA Tribune under its belt, wants to gain a foothold in Los Angeles and Chicago markets.