It looks like Rupert Murdoch might be keen to expand his media empire yet again. Reports have indicated that the old man is now after the Los Angeles Times and the Chicago Tribune.

He’ll be licking his lips at the prospect of expanding his media empire to include two more of the United States, of America’s biggest news markets – the LA Times and the Chicago Tribune.

He already has the New York Times, and the Wall Street Journal too.

The LA Times reported:

News Corp. and Tribune Co. have existing business ties. Tribune owns 23 television stations, including nine that carry the programming of News Corp.’s two broadcast networks. Tribune stations in San Diego, Sacramento and five other markets are Fox network affiliates.

The Los Angeles Times also prints more than 100 000 copies of the Wall Street Journal that are distributed in Southern California, and the Tribune prints the Journal in Chicago.

With Tribune Co. expected to emerge from bankruptcy soon, News Corp. Chairman and Chief Executive Rupert Murdoch is looking to acquire two of its trophy properties — the Los Angeles Times and the Chicago Tribune.

Tribune Co.’s debt holders — two investment firms and a bank — will become majority owners of the company after it exits bankruptcy, which could happen by year’s end. News Corp. executives have had preliminary talks with these debt holders about acquiring the Los Angeles Times and Chicago Tribune, according to two ranking News Corp. executives and others familiar with the situation.

The talks are in their early stages, and apparently Murdoch isn’t the only stakeholder interested in the acquisition that could see the LA Times sell for $400 million on its own.

There is a little problem though, as the Times continued:

Federal Communications Commission rules prevent owners from owning a newspaper and TV stations in the same market. News Corp. owns two Fox stations in L.A. and two in Chicago.

Not to worry however, because the FCC has been considering discontinuing that rule, and has made exceptions in the past too.

At the other end of the scale, Murdoch again found himself in hot water last week for saying silly things on Twitter.

He was forced to publicly apologise to Hugh Grant after he suggested on the social network that the actor had abandoned his “love child”.

Murdoch said on Twitter:

Hugh Grant states that he is deeply involved in his daughter’s life – I accept that,regret tweet on the matter. Apologies to both parents.

Grant was furious about Murdoch’s tweet and was rumoured to have been considering legal action.

According to the Guardian:

Murdoch made the slip up after getting entangled in a row over his “scumbag celebrity” tweet after being tackled on Twitter by another user. When one Twitter user responded to Murdoch: “Scumbags? And your journalists and executives are what?”, the media baron replied: “They don’t get arrested for indecency on major LA highways! Or abandon love child’s.”

Last night Murdoch sought to clarify his description of “scumbag celebrities” who met the prime minister to talk about press regulation during the Conservative party conference.

He clarified on Wednesday evening: “I did not say all celebrities were scumbags. Check my tweet. And apology to any who misunderstood.”

[Sources: LA Times, Guardian]