Cubs for sale?

[Chip R]

Can't imagine why since they have had such a rich history of success. :

http://news.yahoo.com/s/ap/20061005/...imes_publisher

Tribune Co. ousts LA Times publisher



LOS ANGELES - Los Angeles Times Publisher Jeffrey M. Johnson was forced out Thursday, a month after he defied parent company Tribune Co.'s demand for what he considered potentially damaging staff cuts.

He is being succeeded by David D. Hiller, who has been publisher of the Chicago Tribune, the Tribune Co. said in a statement.

"Jeff and I agreed that this change is best at this time because Tribune and Times executives need to be aligned on how to shape our future," said Scott Smith, Tribune Publishing president. "We thank Jeff for his leadership of important advances at the Times and his significant contributions during his Tribune career."

Neither Tribune spokesman Gary Weitman nor Times spokesman David Garcia immediately returned a phone call seeking comment.

In a Web-posted story, the newspaper reported that Tribune had asked Johnson to resign and that Hiller was expected to ask Times Editor Dean Baquet to stay, despite the editor's own protests against further job cuts by the newspaper's Chicago-based parent corporation.

Times editorial staff had rallied behind Johnson and Baquet and sent a letter supporting them to Tribune executives.

Late last month, Tribune announced it would study the possible sale or breakup of the corporation, which owns the Chicago Tribune, KTLA-TV Channel 5, baseball's Chicago Cubs and other TV stations and newspapers.

The Tribune board is expected to decide on a course by year's end. Chief Executive Dennis FitzSimons has said plans would not include selling the Times.

Tribune has called for cuts at all its newspapers, which include The (Baltimore) Sun, Orlando Sentinel and Newsday. The Times, the nation's fourth-largest paper by circulation, has already cut 200 editorial positions during the past five years.

Johnson seemed to soften his stance regarding cuts after meeting with Smith before Tribune's Sept. 21 board meeting. In a memo sent to staffers, Johnson emphasized cooperation and shared goals between the newspaper and its owner.

Like many old media companies, Tribune has been struggling with declining advertising and circulation as readers age and younger consumers turn to the Web for news. Meanwhile, shareholders have been clamoring for the results that were promised when the company bought Times Mirror in 2000 for about $8 billion.

While the Chicago Tribune is the namesake paper of the Tribune media empire, the Times is its single largest asset, accounting for nearly 20 percent of its 2005 revenue of $5.6 billion, according to sources cited by the Times.

Johnson was executive vice president and general manager of the Times when he took over as publisher June 1, 2005. He replaced John Puerner, who along with Johnson joined the paper as part of a management shake-up shortly after Tribune bought Times Mirror Co.

Before joining the Times, Johnson served as president and chief executive officer of Landoll Inc., a former Tribune Education company. He joined Tribune in 1984 and has held positions at the Chicago Tribune and Orlando Sentinel.

[Matt700wlw]

Maybe Lindner has the itch again....

[Blimpie]

Maybe Christian Laettner can make an offer....that way I can loathe the Cubs even more.

[KronoRed]

Nooo! they might be sold to someone who wants to exploit the large market and actually try and win

[cumberlandreds]

Originally Posted by Matt700wlw

Maybe Lindner has the itch again....

He would be a perfect for them. He's an old goat.

[westofyou]

It’s been so long since the Cubs won a World Series that the last time they did it their catcher didn’t wear shin guards, they didn’t play in Wrigley Field (Built in 1914) and the star on the team they defeated was Ty Cobb. And he retired in 1928 and has been dead for 45 years.

[RFS62]

98 years.

I think I see a pattern forming here.

[Chip R]

Originally Posted by westofyou

It’s been so long since the Cubs won a World Series that the last time they did it their catcher didn’t wear shin guards, they didn’t play in Wrigley Field (Built in 1914) and the star on the team they defeated was Ty Cobb. And he retired in 1928 and has been dead for 45 years.

http://www.redszone.com/forums/showthread.php?t=51256

[oregonred]

No, no, no :thumbdown

This would be the nightmare scenario for the rest of the NL Central -- Cubs get new ownership that wants to win.

If they wanted too, they'd leave this division in the dust on payroll and revenue inflows. A Lexus in a division of a couple of well run Buicks (STL/Hou) a Hyundai (Reds) and a couple of Kias (Pirates/Brewers)

[Wheelhouse]

New ownership + Dusty gone + Girardi as possible replacement...spells trouble for us.

[Outshined_One]

It's all up in the air right now. The Tribune has most of its viable assets on the table right now since it's trying to go back to being a private company. The question is what exactly they're looking to sell, since they have a ton that can be sold off.

The current rumor going around Chicago is that the Tribune is going to sell most of its non-Chicago-based assets (newspapers, TV channels, etc) while keeping all of their Chicago-based assets, which will include the Chicago Tribune, WGN, the Cubs, and a few other things. However, the Cubs could reportedly be had for the right price.

The problem for anyone looking to buy the Cubs is that the Tribune is going to raise the price well beyond its market value. Remember, the Cubs are one of the most profitable franchises in professional sports and they make good money from people coming out to the ballparks, merchandise, advertising, and so on. The Cubs are also tied into WGN and WGN Radio, so there would be the matter of working out an arrangement with local media if the Tribune sold the Cubs.

I'm guessing the sale won't likely happen this offseason if it does happen.

Then again, look on the bright side for you guys. Some money-grubbing SOB like Bill Wirtz could buy the team, run it into the ground, chase away all of the fans, and move the team to Portland.