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Tribune Hires Advisers on Potential Bankruptcy
NY Times ^ | Dec.7,2008 | Michael J. de la Merced, Richard Pérez-Peña and Andrew Ross Sorkin

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 ...


TOPICS: News/Current Events
KEYWORDS: bankruptcy; newspapers; tribune; zell

1 posted on 12/07/2008 4:30:36 PM PST by COUNTrecount
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To: COUNTrecount

Printng the truth might have saved the paper!


2 posted on 12/07/2008 4:33:24 PM PST by Kackikat (.It's NOT over until it's over and it's NOT over yet....The Trumpet will sound....)
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To: COUNTrecount

Dinosaurs on their way to the oil wells.


3 posted on 12/07/2008 4:34:01 PM PST by freedumb2003 (Der neuen Fuhrer: AKA the Murdering Messiah: Keep your powder dry, folks)
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To: COUNTrecount

Do these advisors have ties to the Clinton Administration as well?

None of them should be looking for work these days. Die, MSM, Die!


4 posted on 12/07/2008 4:35:55 PM PST by Baladas ((ABBHO))
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To: COUNTrecount

Going Down?


5 posted on 12/07/2008 4:37:26 PM PST by Mikey_1962 (Obama: The Affirmative Action President)
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To: abb

Dinosaur media death watch ping!


6 posted on 12/07/2008 4:39:58 PM PST by Man50D (Fair Tax, you earn it, you keep it!)
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To: COUNTrecount

Wall St. Journal’s still doing okay, yes? Washington Times?


7 posted on 12/07/2008 4:44:17 PM PST by oprahstheantichrist (The MSM is a demonic stronghold, PLEASE pray accordingly. 2 Cor. 10:3-5)
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To: COUNTrecount

Saving more trees. It’s a good thing.


8 posted on 12/07/2008 4:44:44 PM PST by Mark (Don't argue with my posts. I typed while under sniper fire..)
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To: COUNTrecount

ah yes, good ol’Sidley Austin,seems to have a finger in every pie...........


9 posted on 12/07/2008 4:45:30 PM PST by MissDairyGoodnessVT (Good Morning Mr & Mrs Scooter and All The Ships At Sea)
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To: COUNTrecount

Maybe Drudge will buy ‘em out.


10 posted on 12/07/2008 4:45:32 PM PST by rbg81 (DRAIN THE SWAMP!!)
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To: Kackikat

Ya think the New York Times might snag a clue?


11 posted on 12/07/2008 4:45:48 PM PST by HoosierHawk
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To: COUNTrecount

Let’s hope the NYT got the advisor’s business card.


12 posted on 12/07/2008 4:45:52 PM PST by EagleUSA
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To: COUNTrecount
These b@st@rds have been talking down the economy for the last 7+ years. They deserve all that is coming to them and then some.
13 posted on 12/07/2008 4:51:16 PM PST by Parley Baer
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To: HoosierHawk

These guys would rather go down in smoke than speak truthfully...


14 posted on 12/07/2008 4:58:47 PM PST by Kackikat (.It's NOT over until it's over and it's NOT over yet....The Trumpet will sound....)
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To: COUNTrecount

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.


15 posted on 12/07/2008 5:06:03 PM PST by boxer21
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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.


16 posted on 12/07/2008 5:06:30 PM PST by Godwin1
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To: EagleUSA

Yes, maybe the NYT can arrange a package deal - two for the price of one.


17 posted on 12/07/2008 5:13:00 PM PST by Malesherbes (Sauve Qui Peut)
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To: Godwin1
You are not alone.

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.

18 posted on 12/07/2008 5:14:34 PM PST by HoosierHawk
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To: oprahstheantichrist

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.


19 posted on 12/07/2008 5:43:01 PM PST by Big_Monkey
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To: Parley Baer
These b@st@rds have been talking down the economy for the last 7+ years. They deserve all that is coming to them and then some.

The cheerleaders of negativity are drowning in the cesspool they helped create.

20 posted on 12/07/2008 6:31:05 PM PST by oldbrowser (bipartisanship means capitulation)
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To: COUNTrecount
we should tax newspapers more in order for them to be competitive with the internet. hahahahahaha... tools.

schadenfreude is DEE-LISH-USH !!!!!!

I just don't understand. All the newspaper people are so smart. They know how every other business should operate and support other liberals... how can this be?

The only thing better than this is for "Pinch" and the rest of the NYT staffers and editors to close the door, lay on the floor and drink some Kool-Aid because their retirement portfolio was in NTY stock.....hahahahahaha.

21 posted on 12/07/2008 8:30:34 PM PST by erman
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To: COUNTrecount

May every worker at the LA Times get fired on Christmas eve.

With Al jezzera fully staffed they have nowhere to go.


22 posted on 12/08/2008 2:13:44 AM PST by NoLibZone (To All those that have sworn the Oath- Time Has Come. Or your service has been for the benefits.)
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To: COUNTrecount

Today, the stock (ticker symbol=TXA) went from ~$18 to a buck and change at last check. Ouch!!!


23 posted on 12/08/2008 11:38:51 AM PST by Rockitz (NObama 2008- Strange we ain't believin')
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To: Rockitz

God is punishing them for publishing lies


24 posted on 12/09/2008 12:33:52 AM PST by myuhaul
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