Tribune newspapers worth $635 million, analyst says
Tribune newspapers worth $635 million, analyst says

With Tribune Publishing set to spin off from Tribune Co. on Aug. 4, analysts have begun weighing in as to what the stand-alone, publicly traded newspaper company may be worth. In a report issued Thursday by CRT Capital Group, analyst Lance Vitanza pegged Tribune Publishing’s equity value at about $635 million, or less than 10% of Tribune Co.’s total valuation. Despite “secular head winds” that have cut newspaper industry revenues in half since 2005, Vitanza sees potential upside for Tribune Publishing as its brings the Los Angeles Times, Chicago Tribune, Baltimore Sun and five other daily newspapers under one corporate umbrella, accelerating the transition from...