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Billionaire Sam Zell is taking over at the Tribune Company, parent of the L.A. Times. But who should own newspapers? Companies? Families? Very rich guys? L.A. Times media critic Tim Rutten says that behind every great newspaper is a great family.
I think there has to be something illegal about Sam Zell's ability to effectively purchase the Tribune Corporation and turn it into a private company. I think a new arrangement should be made to effectively make Sam Zell risk all of his money on the success (as defined by Tribune employees) of the company. I believe the FCC could disallow this deal from closing if they just had the will to do so. Privatizing a media conglomerate of Tribune Corporation's magnitude violates the letter and spirit of the public's rightful ownership of the airwaves.
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