A Chicago Tribune vending machine sits on a sidewalk in Chicago, Illinois, U.S., on Friday, August 7, 2015. Photo: Christopher Dilts/Bloomberg
Executives at Tribune and McClatchy are circling one another once again to revive merger talks that had died down nearly a year ago. The news comes from industry analyst Ken Doctor, who cites several unidentified people with knowledge of the discussions.
Doctor said, “While I don’t expect any imminent announcements, both companies’ executives agree that, in this rapidly deteriorating operating environment, a merger that buys time by massively cutting costs is a first order of 2020 business.”
Additionally, both the companies were in a financial flux. Following this, both McClatchy and Tribune entered merger talks last Dec., but they soon died down when Tribune Publishing rejected a fully financed cash-and-stock offer from McClatchy valuing the company at $16.50 a share.
Both companies declined to comment to Doctor on the latest merger chatter.
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