Hot on the press

摘要

The internet is generally regarded as a threat to the media industry as a whole, with newspapers as its first victims. So at first glance it looks odd that, on October 23rd, at least three private-equity firms reportedly made initial bids to buy the Tribune Group, a conglomerate with a market capitalisation of about $8 billion, which owns three of America's most prominent newspapers, the Los Angeles Times, Baltimore Sun and Chicago Tribune, as well as several television stations and the Chicago Cubs baseball team.