updated article
http://online.wsj.com/article/SB122868944355686385.html?mod=special_page_campaign2008_mostpop
The company’s cash flow may not be enough to cover nearly $1 billion in interest payments due this year, and Tribune owes a $512 million debt payment in June.
One of Tribune’s most pressing concerns: By the end of the year, the company is likely to be in violation of debt terms that limit borrowings to nine times its adjusted profits. The ratio stood at 8.3 at the end of the second quarter, before Tribune reported an 83% decline in operating profit for the three months ended Sept 28.
http://timwindsor.com/
And so it begins