The Tribune Company, owner of the Chicago Tribune as well as the Los Angeles Times, is reported to be preparing a bankruptcy filing this week, according to the Wall Street Journal website. From Reuters and the Washington Post:
The paper said Tribune has been on wobbly footing since last December, when real-estate mogul Sam Zell led a debt-backed deal to take the company private. Tribune so far has stayed ahead of its $12 billion in borrowings with the help of asset sales, but dwindling profits are now tightening the noose, it said. The company’s cash flow may not be enough to cover nearly $1 billion in interest payments this year, and Tribune owes a $512 million debt payment in June, the paper said.
Another pretty big media company biting the dust, a victim not just of a bad advertising business climate but also victimized by the insane private equity deal that was put together here. Those deals are now crashing and burning everywhere. I wonder if we can blame this on the housing market?
Bill Manzi.com 
Your Honor,
Another failed liberal medium. I can hardly wait for the Globe to fall in line.
Matbe Air America can save them.
Jules
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blame the deregulation of wall st, the lassie faire form of government and the absolutely astoundingly fast defoliation of the nation’s capital….the present regime SPENT our budget surplus faster than we thought possible..they even took to mailing useless 3 digit checks out the citizens because they just couldn’t empty the country’s coffers fast enough. hell i was a theatre major and even ‘I’ saw this coming. ever CEO asking for a bailout should be hung up by their thumbs.
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jgodsey, you must have been a Theatre major because you haven’t a clue what has happened.
I agree with you about the CEO’s.
The rest you must have got out of the little red Democratic hand book.
If you are saying it was a bipartisan screw up I will also agree with you.
Explain lassie faire form of government.
By present regime I assume you are talking about the Democratically controlled congress.
Jules
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Jules:
I’ve lurked for some time on this site, and have enjoyed, if nothing else, your sheer diligence in posting to most every comment made by just about anyone. Kudos for keeping the torch burning! Have you considered your own blog?
Given that you post at least as often as the Mayor, I’m thinking you need a title, too.
How about “Mr. Speaker”? Do I have a second?
-FM
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Mr. Speaker,
You may be sorry to learn that the Chicago Tribune is considered a conservative paper: it supported Mr. Bush in both 2000 and 2004.
Oh, well. One less paper to read an O’Reilly column in. Now, that’s a shame.
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Wow, your honor, there are other people out there.
Fred You are reticent as I am garrulous . No body else balances the Mayor’s entries. In case you haven’t noticed this is largely a Democratic state.
Endorsing Mr Bush does not make the tribune a conservative paper, it means the Democratic entries were bad beyond supporting.
The company that owns the Trib also owns the LA Times. Plenty for O’Reily there.
By the way Fred that would be “Mr. Speakah” in this part of the country.
There are not many conservatives in this area so I am offering the voice of sensibility.
Look forward to your next posting.
Jules
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Mr. Speaker,
I wouldn’t presume to affect a fake Boston accent, though I may be your neighbah, and watch the Brooins.
I had noticed the preponderance of Obama stickers on the morning commute, thanks for the heads up!
Sorry again about the Trib, even conservative billionaires screw up sometimes.
-FM
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