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dealbook.blogs.nytimes.com - 12/7/2008

Tribune Hires Advisers to Help Stave Off Bankruptcy

— dealbook.blogs.nytimes.com — 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 ... (more) Tribune Hires Advisers to Help Stave Off Bankruptcy

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latimes.com - 12/8/2008

Tribune Co. files for Chapter 11 bankruptcy protection - Los Angeles Times

— latimes.com — "A precipitous decline in revenue and a tough economy have coupled with a credit crisis, making it... extremely difficult to support our debt," Zell said in a statement to employees just before 11 a.m. Pacific time. "All of our major advertising ... (more) Tribune Co. files for Chapter 11 bankruptcy protection - ...

Comments vote downundo vote up FullosseousFlap's Dental Blog found this 12/8/2008found this

4

chicagobreakingnews.com - 12/8/2008

Tribune files for bankruptcy

— chicagobreakingnews.com — Tribune Co. has been struggling under a $13 billion debt load since real estate magnate Sam Zell... took the company private last December in an $8.2 billion leveraged buyout. The company faces a deadline today on $70 million of unsecured debt it took on ... (more) Tribune files for bankruptcy

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Front-Page Blues
Opinionator — ... of advisers, including Lazard and Sidley Austin, one of the company’s longtime law firms, could be a just-in-case move, or a bargaining tactic. The company would not comment on Sunday. Good news — at least for right-wing bloggers. “Declining revenue, mounting debt woes, and readers fleeing in droves due to the relentlessly liberal slant,” writes JammieWearingFool. “It’s not as if this is anything new. Over the years countless papers have failed and/or wound up merging with others. The print newspaper industry is dying and there’s no turning back .” “ ...