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Tribune Group to hang on to its big titles

CHICAGO (AP) — The Tribune Co., which announced this week it is shedding two small Connecticut newspapers, says it has no plans to sell the Chicago Tribune, Los Angeles Times, The (Baltimore) Sun or any of its other papers.“While the special committee of our board of directors continues to oversee Tribune’s exploration of strategic alternatives, we have no current plans to sell additional newspapers,” Scott Smith, president of the publishing division of the Chicago-based parent company, said in a brief statement.

On Tuesday, Tribune Co. announced it was selling The Advocate of Stamford and the Greenwich Time to Gannett Co. for $73 million in a transaction between the nation’s two largest newspaper companies. After the announcement of that sale, Dennis FitzSimons said the company had exceeded its goal of selling $500 million in “noncore assets”.

Besides the two newspapers sold to Gannett, Tribune since last summer has shed television stations in Atlanta, Boston and Albany, 2.8 million shares of Time Warner common stock and a former LA Times printing facility.