Chicago Tribune:
Chicago-based Tribune Co. and its creditors are in the early stages of negotiating a plan of reorganization in U.S. Bankruptcy Court that sources said likely would transfer control of the troubled media conglomerate from Chicago billionaire Sam Zell to a group of large banks and investors that holds $8.6 billion in senior debt.
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At his age he might lose control of his bowels, too.
Newspapers have been bankrupt for years, ever since they sold out journalism in favor of advertising.
As if America needed any more proof that conservatives can't run businesses.
Zell swooped in, did some union busting, and is just on his way to fail. The irony is that the Tribune Corp, overall, was a pretty good organization. The only thing dragging it down was the newspaper.
Had Zell cared about the company, he would have dumped the paper and kept everything else. Instead, he wants to sell off everything to keep the newspaper going.
I can see why the conservatives want to- the Tribune is a dagger of far right propaganda sticking right in the heart of America.
What are newspapers for? Turning a profit, or informing the public?
Zell thinks they're just for making a profit. He slashed the LA Times up so badly, it's pretty much unrecognizable now. It has lost entire sections, has been stripped to just be a little rag, most days.
This is what we get, folks. We get greedy people like Zell who want $$$. We had, what I thought was an excellent paper for about a century or so. The reporting was great (still is, when they actually write an article), but the paper is now far less in every way than it was before Zell bought it.
So, when this guy sells all these papers he had intended to fleece, but was unable to do so, I hope his loss is as great as the losses his readers have suffered for his greed.
Sam Zell was a real estate genius. Newspapers are vastly more complex organisms. He didn't have the vision for that kind of business.
You're right. Papers are far more complex, and obviously it is harder to flip a massive newspaper corporation than a house.
Bankrupt Zell! Bankrupt!
That's what you get for f***ing up my paper (LA Times)!
I though this guy was suppose to be a financial genius. Time to hang up the checkbook. He's way past his prime.
Wasn't Zell in "Marathon Man?"
No he was one of the hobbits. The short one.
Is it safe.....? He looks like a cross between George W. Bush, Colonel Sanders, and Cojack.
I am reading earlier comments: I feel bad for the readers of the LATimes, which I always read on line because some of my family is in that area -- when the Times was merged with the Tribune, both papers went down in value.
So true. It's a shell of its former self for real. We have no paper here in LA thanks to this guy.
When I see the depths to which the Chicago Tribune has sunk under Zell, I cannot wait for him to be ousted -- no one else could be as bad as he.
The Trib owns a news channel, a cable channel, and a radio channel -- their message on all outlets is similarly biased.
Please, can we have our LA Times back. It was hijacked a few years ago by sodomites and my Sunday mornings have never been the same.
Sodomites? I think you mean it was hijacked by greedy real estate barons.
Maybe the Trib can & will get worse if the banks take over running the Trib. What will happen to the LA Times? I fear that the LAT will no longer be a newspaper of record if bankers take over running the LAT.
That could be. Hopefully, some Hollywood types will scrape up the cash for it. The city isn't going anywhere. We do need some kind of newspaper, and the LA Times is all there is.
Hollywood's money types & artists are recognized as being successful as creating new things. Don't be surprised if they create something to replace the LAT that isn't a newspaper.
Gotta get the Cubs deal done quickly. Screw the Trib, I care about the Cubs!
Be polite when you speak to Mark Cuban.
Well it's a better alternative than bankruptcy.
Just what we need>>large banks controlling the news. Any newspaper controlled by Large Banks will have the credibility of the NYT and sink like a stone.
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First Posted: 06- 8-09 09:09 AM | Updated: 06- 8-09 09:22 AM