Chandler-Tribune update: WCWN = GONE

Tribune Co. continues its fierce refutation of the Chandler family’s complaints of synergistic failure by releasing its May revenue numbers, which are marginally improved, and by announcing the sale of one of its WB affiliates, Albany’s WCWN. The sale’s proceeds will be used to help finance the buyback plan that provoked the whole contretemps. Given the vehemence of the Chandlers’ criticisms, however, this minor feint is unlikely to have much impact on stockholders, who hear the siren call of Wall Street whispering to back the Chandlers.