The Chandlers are selling! The Chandlers are selling! Actually, the Chandlers suffer from premature gratification: They’ve gone and sold their Tribune Co. shares below market value, and even sold them all off immediately instead of waiting until till November, when their terms under Sam Zell’s buyout arrangement would’ve allowed them to earn $3 more per share.

Add to that the Chandlers’ resigning their three board of directors seats, and you’ve got a scenario of completely severed ties between the Chandler family and newsprint after a 120 year love affair. Oh, and did we mention the $1.6 billion that’s now in their pockets?

Let’s hope some things will stay the same. Like Bill O’Reilly’s endless feuding with the paper, for example.