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Rupert Murdoch reportedly wants to buy the LA Times: 'He wants it

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The Los Angeles Times, a newspaper that's faced financial trouble for years, is being eyed by News Corp. CEO Rupert Murdoch, according to the New York Times.

The Times reports...

“He wants it,” one person close to Mr. Murdoch said of The Los Angeles Times. ...

Mr. Murdoch has given mixed signals about his interest in The Los Angeles Times, which is being put on the market by the Tribune Company, along with its other seven newspapers. A longtime reader of the paper, Mr. Murdoch is weighing whether a bid would be worth the headache and regulatory battles, said several people close to him who spoke on the condition of anonymity to discuss private conversations. (The Tribune Company has indicated that it may prefer to sell its newspapers as a bundle.) ...

Media-ownership laws currently prevent one company from owning newspapers in the same market that it owns TV stations. Murdoch owns two TV stations in the Los Angeles market, according to the Times.

“They’re working on getting a waiver now," the Times' source said.

A purchase of the Los Angeles Times would be another addition to Murdoch's stock of big news publications. His company also owns the New York Post, the Wall Street Journal, Fox News channel and more both in the U.S. and overseas.

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