The company that owns the Chicago Tribune and the Cubs is planning to restructure.
Stock in the Tribune Company is up today, following yesterday’s announcement that the media giant will reorganize.
Options may include selling parts of the company or taking it private.
The company is restructuring two complex partnerships with the Chandler family, the former owner of the Los Angeles Times.
In recent months, the Chandlers had expressed concerns about a stock buy-back plan and called for the breakup of the company.
Tribune stock rose today, but Standard & Poor’s lowered the company’s credit rating to the “junk” category.
The agency says the restructuring plan suggests that Tribune Company won’t be concentrating on decreasing its debt.