New York Times:
But other people close to the restructuring talks, speaking anonymously because the discussions were supposed to remain private, caution that the major creditors have not yet given a clear indication whether they want Mr. Zell to leave or remain in some capacity. Nor has Mr. Zell said clearly whether he wants to go, though he is used to being the man in charge, and his authority would be diminished under new owners.
Chris Maloney: Tribune: Decline of a Media Giant
Tribune's vast multimedia holdings were supposed to act as a hedge against a downturn in any one area -- that was before the Internet and the "perfect storm" financial crisis.
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After losing $150 million on the Cubs sale, he needs a job.
U.S. Army -- 1968 -- "In order to save the village we had to destroy it."
Sam Zell -- 2009 -- "In order to save the newspaper, and maximize my take home pay, we had to destroy it."
Fool me once, shame on you, fool me twice, ah, ah, ah, ah, you can't fool me again!
Zell deliberately knew Tribune was a money loser & bought it anyway.
Zell bought Tribune to push in Obama & gain political power.
People are not fooled here.
Great--now we can *really* count the days until the LA Times dies a premature and unnecessary death. Come on, HP, we need a Los Angeles page...please...?
Sam Zell should be prosecuted for what he and his greedy, self-serving actions have done to the newspaper industry.
Dod Gamn, Chicagoland hasn't had a newspaper since Col McCormick & after Field sold the Sun-Times. Be of good cheer, Ms Huffington's HP has a Chicago page/section.
Meanwhile, Zell bought out all these newspapers and forced them to make massive cuts to staff - and news the paper carried.
What was the outcome in CT, whose papers are owned by Zell's Chicago Tribune? This is the outcome...
‘At best plagiarism, at worst outright theft,’ one newspaper publisher says; Courant covers towns with other papers' reporting
http://journalinquirer.com/articles/2009/08/29/page_one/doc4a97e2769e42d990029540.prt
Courant Reviews Aggregation Policy
http://www.courant.com/news/breaking/hc-courant-aggregation-statement-0829,0,1621524.story
So to the rest of you out there who have seen your paper fold or seen it go "internet only", you could be facing the same plagiarism in your news with the massive staff cuts.
Thanks a lot Zell.
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Posted: 08-31-09 09:18 AM