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Tribune buys Times Mirror March 13, 2000 Tribune Company, owner of the Chicago Tribune, will buy Times Mirror, publisher of the Los Angeles Times, in a $6.4 billion deal that would create the third-largest newspaper company in the United States. According to the LA Times,’ the Otis and Chandler families that control Times Mirror have agreed to end their 100-year ownership of the company. The newspaper said the deal was approved late Sunday night by the Times Mirror board. Investors in Times Mirror will be offered a premium of almost 100 percent over Times Mirror stock's closing price Friday of March 10. The combined company will have a total circulation of some 3.6 million, placing it behind newspaper publishers Gannett and Knight Ridder. The sale will result in Los Angeles becoming the largest city in the nation without a locally owned newspaper.
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