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Tribune Co. outlays failed to halt spiral (Dinosaur Media DeathWatch™)
Chicago Tribune ^ | December 30, 2008 | Ameet Sachdev

Posted on 12/30/2008 5:41:49 AM PST by abb

Before Tribune Co. sought bankruptcy protection on Dec. 8, the Chicago-based media company and Chicago Tribune owner had spent nearly $3 million for legal work related to managing and restructuring its massive debt.

Those efforts began as early as March, three months after Chicago real estate investor Sam Zell completed a deal to take Tribune Co. private in a leveraged buyout, according to court documents filed Dec. 26 by Sidley Austin, Tribune Co.'s bankruptcy counsel.

Sidley's filing, as well as papers submitted to the bankruptcy court by other Tribune Co. advisers, indicate that the prospect of Chapter 11 reorganization became a more likely scenario in November, weeks before the bankruptcy petition was filed in Delaware.

In early November, Tribune Co. hired consulting firm Alvarez & Marsal, well-known restructuring and bankruptcy advisers, to assist with bank negotiations, among other things, according to court papers. Prior to Tribune Co.'s bankruptcy, Alvarez & Marsal was paid more than $1 million by the media company.

Also last month, Tribune Co. hired the Edelman public relations firm to assist with communications in connection with a possible Chapter 11 petition, Edelman said in court documents. Tribune Co. provided Edelman with two retainers totaling $110,000. As of Dec. 14, Edelman had applied $98,000 for incurred fees and expenses.

snip

(Excerpt) Read more at chicagotribune.com ...


TOPICS: Business/Economy; Extended News; News/Current Events; Politics/Elections
KEYWORDS: advertising; dbm; newspapers; tribune

1 posted on 12/30/2008 5:41:49 AM PST by abb
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To: 04-Bravo; aimhigh; andyandval; Arizona Carolyn; backhoe; Bahbah; bert; bilhosty; Caipirabob; ...

ping


2 posted on 12/30/2008 5:42:14 AM PST by abb ("What ISN'T in the news is often more important than what IS." Ed Biersmith, 1942 -)
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To: abb

http://www.nytimes.com/2008/12/30/business/30internet.html?ref=business
Give Us More Bandwidth

http://www.nytimes.com/2008/12/30/business/media/30adco.html?_r=1&ref=business&pagewanted=all
TV Retains Marketing Dollars in Hard Times

http://www.laobserved.com/archive/2008/12/times_closes_globe_lobby.php
Times closes Globe Lobby — again


3 posted on 12/30/2008 5:43:30 AM PST by abb ("What ISN'T in the news is often more important than what IS." Ed Biersmith, 1942 -)
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To: abb

http://www.courant.com/business/hc-bristol1230.artdec30,0,7080260.story
No Offer Yet For Bristol Press, New Britain Herald


4 posted on 12/30/2008 5:55:33 AM PST by abb ("What ISN'T in the news is often more important than what IS." Ed Biersmith, 1942 -)
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To: abb

http://morningsentinel.mainetoday.com/news/local/953554143.html
Newspapers’ sale likely to happen in 2009


5 posted on 12/30/2008 6:18:54 AM PST by abb ("What ISN'T in the news is often more important than what IS." Ed Biersmith, 1942 -)
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To: abb

http://www.washingtonpost.com/wp-dyn/content/article/2008/12/29/AR2008122902525.html
At NBC, There Is No Script For Success

http://www.ft.com/cms/s/0/08bc03ec-d613-11dd-a9cc-000077b07658.html
NY Times plans fundraising


6 posted on 12/30/2008 6:24:19 AM PST by abb ("What ISN'T in the news is often more important than what IS." Ed Biersmith, 1942 -)
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To: All
At NBC, There Is No Script For Success

(milhous dons "bigs" programmer hat to pitch "treatment" for success)

Saturday Night Live finally seems ready for prime time with Fey aping Palin on every show supposedly creating "must see TV." NBC ought to run SNL an additional 5 times a week right before Leno jokes about Palin. With O'Brien taking up the rear joking about Palin.

NBC can use "We Hate Palin" as their new season's pitch.
7 posted on 12/30/2008 7:42:28 AM PST by Milhous (Do unto others as you would have others do unto you.)
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To: Milhous

I kinda waiting for Law and Order francise reset Sarah Palin that what I waiting for maybe SVU episode where they badmouth her daughter getting pregnant

That what I waiting for it seem that Law and ORder went from being average cop show with wisecracking NYPD detective to reset episode of today events


8 posted on 12/30/2008 10:19:31 AM PST by SevenofNine ("We are Freepers, all your media belong to us, resistence is futile")
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To: SevenofNine
Thanks for helping to scheduling Must Seethe TV:
9 posted on 12/30/2008 1:10:07 PM PST by Milhous (Do unto others as you would have others do unto you.)
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To: Milhous

OH I giving you ideas eh?


10 posted on 12/30/2008 1:19:28 PM PST by SevenofNine ("We are Freepers, all your media belong to us, resistence is futile")
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To: SevenofNine
to reset episode of today events

Long time Law and Order fan. Its plots have been famously 'ripped from the headlines' since the very beginning.

11 posted on 12/31/2008 12:44:15 AM PST by Lucius Cornelius Sulla (Just because I am an Oogedy-Boogedy kind of guy!)
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