Tribune Company is looking sell another one of its businesses, this time its Tribune Media Services unit, in an attempt to increase its short-term liquidity, in order to increase its short-term liquidity, the Financial Times reported Thursday.

TMS is a Tribune subsidiary, and distributes syndicated content, such as columns and comic strips, as well as providing movie and TV listings.

The Chicago-based Tribune Co. is the second largest U.S. newspaper publisher, and is about US$13 billion in debt, US$1.84 billion of which is due in 2008 and 2009, FT reported. It was bought by real estate investor Sam Zell last year.

Although Zell had said he would not sell any of Tribune Co.'s 11 newspapers, last month he agreed to sell tabloid Newsday to cable company Cablevision, to pay down some of its debts. Other newspapers owned by Tribune include the Los Angeles Times and flagship Chicago Tribune.

TMS generates about $25 million a year, before interest, taxes, amortisation and depreciation, and could be worth about $200 million on the auction block, FT reported.

Tribune is also looking to sell to the Chicago Cubs baseball team and the team's home base, Wrigley Field stadium.