Murdoch Looking to Purchase LA Times, Chicago Tribune: Report

October 22, 2012 Updated: October 23, 2012

Media mogul Rupert Murdoch is looking to purchase the Los Angeles Times and the Chicago Tribune, which are among the largest U.S. newspapers in circulation, it was reported.

Murdoch’s News Corporation owns a slew of media companies including Fox, The Wall Street Journal, Sky News, and others.

The Chicago Tribune and the Los Angeles Times are both owned by the Tribune Company, which is struggling to exit bankruptcy.

News Corp. executives are currently in early talks with the debt holders of Tribune Co., the Chicago Tribune reported over the weekend.

In a statement, News Corp. said that reports of it wanting to acquire the two publications are “wholly inaccurate,” according to the Chicago Sun-Times, a newspaper that Murdoch owned briefly in the 1980s.

Executives close to Murdoch told the Chicago Tribune that he has long sought to purchase the Los Angeles Times, as that would give News Corp. a major market presence in the second largest city in the United States.

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