While there is no question that Tribune Co.'s recent performance has been disappointing, Rem Rieder writes in the
American Journalism Review that it is "tacky" of the Chandler family to raise
a fuss "and not just because it was their decision to cash out for $8 billion" when they sold
Times Mirror to the Chicago-based media company in 2000. Not only are some of Tribune's woes the
same that beset all newspaper companies--declining circulation, the rise of the Internet, etc.--"but more to the point, a lot of the company's big difficulties are due to
Times Mirror, thank
you very much." Rieder points to a billion-dollar tax bill that is the result of a
Times Mirror dispute with the IRS, the circulation scandal at
Newsday, and the
Los Angeles
Times--which, "while a wonderful paper in many respects, has not exactly been cash cow of the year." So, Rieder concludes: "it's pretty hard for me to work up much sympathy for these whining
Chandlers, although I certainly will support them for a Pulitzer Prize for Gall."
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