Tribune Co. Looking For Cuts During Budget Review

The Tribune Company is reviewing its budget in an effort to identify potential cuts at its newspapers, the Los Angeles Times reported Thursday.

"We’re in the process, as we are every year at this time, of looking at the budgets for all of our businesses," Tribune spokesman Gary Weitman told the newspaper, which is one of the company's titles. "Everything is on the table. We’re looking at how to put our publishing businesses on the best possible footing for the long term."

Weitman, however, denied an earlier report that Tribune CEO Peter Liguori had told managers to make $100 million in cuts. The report came from Robert Feder, blogger and former Chicago Sun-Times reporter, who said that the cuts were scheduled to take effect December 1.

"No targets for expense reduction have been issued," Weitman said, calling the report "grossly inaccurate." He also said that there was no target for staff reductions or set deadlines.

Feder later defended his reporting in a message to Romenesko, writing, "I stand by my sources who were present at the meeting when the budget goals were announced."

The LA Times said that the company has slashed 2,200 jobs in the last three years. The Tribune Co. emerged from bankruptcy at the end of 2012, and is planning to split its publishing and broadcasting divisions into two separate companies.