Mon 8 Dec 2008
We don’t often report hard news – but the news of the Tribune Company possibly filing for bankruptcy caught our eye this weekend. Crain’s Chicago Business relayed a report from the Wall Street Journal – so the buzz machine is in full gear, that’s for sure. You can read it here.
What impact will a bankruptcy filing have on the Chicago Tribune or LA Times? It really depends on what kind of filing Zell & Company pursue. But if anything, this tells us die-hard Cubs fans that Zell is really serious about selling the team and generating the kind of cash he needs to pay $1B in interest and an upcoming $512M debt payment this coming June.





May God save us. One more depressing economic melt down after effect.