Baltimore Business Journal – An activist shareholder is leaning on Tribune Co. to make a series of a moves that would boost the value of its shares, according to a report by the Wall Street Journal.
Hedge fund Blue Harbour Group owns 2.5 percent of Tribune Co., which is in the midst of splitting off its publishing business from its broadcast business and building up its interests in order to emerge from that split fully committed to broadcasting. Blue Harbour supports that move, the Journal said. However, the hedge fund seeks to have Tribune take even further steps, including divesting of online classifieds — such as Cars.com —and selling some of its spectrum to wireless-phone companies.
