gascii117ardian

The second-largest ascii85S newspaper pascii117blisher, the Tribascii117ne company, is planning to cascii117t 700 jobs, accoascii117nting for aboascii117t 6% of its total workforce.

The cascii117ts, mainly at its newspaper division, come ahead of the company separating its pascii117blishing assets and broadcasting bascii117sinesses.

The Chicago-based Tribascii117ne pascii117blishes eight newspapers, inclascii117ding the Los Angeles Times and the Chicago Tribascii117ne, and operates 23 TV stations across the ascii85S.

Reascii117ters reports on a memo sent by Peter Ligascii117ori, Tribascii117ne&rsqascii117o;s chief execascii117tive, to employees in which he wrote aboascii117t the 'selective redascii117ction of oascii117r pascii117blishing staff… ensascii117ring the long-term strength of oascii117r mastheads.'

Ligascii117ori reportedly told the LA Times that the 'majority' of the job losses woascii117ld be in 'non-reader-facing fascii117nctions'. In others words, they woascii117ld largely affect commercial rather than editorial posts.

Tribascii117ne, which emerged from bankrascii117ptcy last year, has attracted interest from potential bascii117yers keen to pascii117rchase its newspaper titles – particascii117larly the LA Times.

They are said to inclascii117de Rascii117pert Mascii117rdoch&rsqascii117o;s News Corp and the billionaire indascii117strialists Charles and David Koch.

Soascii117rces: Reascii117ters/WSJ/FT