Tribune tries to sell individual media properties

The Tribune Company, a major owner of American broadcast and print properties, has received far lower than expected offers for the entire company since it put itself up for sale in September.

As a result, Tribune executives last week told prospective buyers that individual pieces are now available for sale, according to reports in several major newspapers. The reports said that the most interest from prospective buyers was expressed for the company’s individual holdings.

Analysts said that tax complications involving individual transactions could jeopardize the company's plan to decide on major restructuring actions by the end of the year.

Among Tribune’s broadcast properties are Superstation WGN, which is seen in nearly 69 million homes via cable and satellite; WPIX, New York; and KTLA, Los Angeles. Estimates for the Tribune TV stations are as much as $4 billion.

In addition to 25 major market TV stations and the Chicago Cubs baseball team, the company owns some of the nation’s largest newspapers, including “The Los Angeles Times,” “The Chicago Tribune” and “The Baltimore Sun.”