As I depart for Los Angeles for Christmas, the long-awaited deal that secures a new owner for the Los Angeles Times has been finalised. The $8.2bn (£4.1bn) buy-out of the Tribune group was orchestrated by billionaire property investor Sam Zell on behalf of the company's employees. Zell now becomes chairman and chief executive of the company that owns 23 TV stations and nine daily newspapers, including the Chicago Tribune. (Via FT.com)
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Zell's Tribune deal comes good at last
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