Posted on 12/07/2008 4:30:36 PM PST by COUNTrecount
Tribune has hired bankruptcy advisers as the ailing newspaper company faces a potential bankruptcy filing, people briefed on the matter said.
The newspaper, which was taken private last year by billionaire investor Samuel Zell, has hired advisers including Lazard and Sidley Austin, one of its longtime law firms, these people said. Tribune has been hobbled by debt related to that sale last year, which has been compounded by the growing drought of advertising for newspapers.
It is only the latest — and biggest — sign of duress for the newspaper industry yet.
(Excerpt) Read more at dealbook.blogs.nytimes.com ...
Printng the truth might have saved the paper!
Dinosaurs on their way to the oil wells.
Do these advisors have ties to the Clinton Administration as well?
None of them should be looking for work these days. Die, MSM, Die!
Going Down?
Dinosaur media death watch ping!
Wall St. Journal’s still doing okay, yes? Washington Times?
Saving more trees. It’s a good thing.
ah yes, good ol’Sidley Austin,seems to have a finger in every pie...........
Maybe Drudge will buy ‘em out.
Ya think the New York Times might snag a clue?
Let’s hope the NYT got the advisor’s business card.
These guys would rather go down in smoke than speak truthfully...
Lefty radio = crash; Lefty newspapers = crash; Lefty TV = crash, led by NBC, the first of yet more to come.
Among the survivors are NPR and PBS, both supported by your tax dollars and lefty foundations.
Good news! But I wonder why the Obanma campaign doesn’t bail them out. The Chicago Tribune has acted as Obama’s de facto press flack for at least three years now. I stopped buying it when it became clear that furthering a relentlessly liberal agenda had replaced reporting the news. I am not alone.
Yes, maybe the NYT can arrange a package deal - two for the price of one.
The Chicago Tribune and WLS-TV managed to bribe a California judge to release Jack Ryan's divorce papers, thus derailing Ryan's campaign for US Senator. Alledgedly.
May the paper go up in flames.
I’m not sure about the WSJ, but the Washington Times would have gone out of business long, long ago if not for the multiple rounds of capital infusion by Sung Yung Moon. While no one knows exactly how much money has been sunk into the paper, it is estimated that it’s approaching $1bilion.
Papers have other, probably more pressing problems than just there political slant. The internet, an aging population are just a few of the pressures affecting profits and sustainability.
The cheerleaders of negativity are drowning in the cesspool they helped create.
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