Tribune Co. plans to spin off newspapers

Tribune Co. plans to spin off newspapers

The Baltimore Sun's owner said Wednesday that it plans to spin off its newspapers as a separate company, the latest move in the Tribune Co.'s effort to focus on the more profitable broadcasting industry.

Chicago-based Tribune said its publishing assets, which include the Chicago Tribune, Los Angeles Times and six other daily newspapers, would be split off with its own board and senior management while the rest of Tribune's holdings — including its television stations and real estate — would stay with the original company.

The plan comes about a week after Tribune announced a deal to purchase 19 television stations, bulking up its broadcasting holdings.

The separation...