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Tribune Publishing Denies Rupert Murdoc's claims that the company is up for sale.

Tribune Publishing Co announced it was not in talks to sell itself, after a tweet from Rupert Murdoch, News Corp’s Chairman, on Friday suggesting Tribune’s newspaper would be up for sale. Shares for the firm were up 4.3% in early trading at $9.69.

According to Murdoch the Los Angeles Times would be spun off and purchased by local investors including philanthropist Eli Broad.

In a letter to its employees on Monday the firm said, “Tribune Publishing remains committed to its strategy and transformation plan and its not engaged in discussions or a process to sell the company.”

In the past the company has attracted interest from entertainment executive David Geffen, and supermarket magnate Ron Burkle. 

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