Morning Wire: Chopping Tribune

Tempers ran wild yesterday during a Tribune board meeting. The Chandler family, Tribune's second-largest investor, called for a breakup of the company in a new example of pressure being applied to a struggling newspaper business. We can only imagine the show that went on in that boardroom. From The New York Times: In a letter sent to the company's board, trustees representing the Chandler family — the billionaire former owners of The Los Angeles Times — accused Tribune management of pursuing a failed strategy for melding local TV stations and newspapers and failing to keep pace with industry rivals. The rest of the board rejected the Chandler's arguments. "It's the beginning of the end game," said Edward Atorino, an analyst at the Benchmark Company. read...