News Corp. denies reports of eyeing LA Times, Chicago Tribune

Oct 20, 2012, 6:40 PM EDT

News Corp has denied reports that it is looking to buy the Los Angeles Times, one of the country's largest newspapers, and the Chicago Tribune from struggling media conglomerate Tribune Co, The reports were first carried by the Los Angeles Times. Wall Street has speculated that News Corp. will take to the acquisition trail after its split into two businesses, one for entertainment and the other for publishing, to bulk up its holdings in a newspaper industry ravaged by advertising revenue losses and declining readership.