Masthead graphic based on a painting by Gudrun Thriemer.

Monday, December 08, 2008

"Tribune Co. Taps Lazard,Weighs Filing for Chapter 11," Wall Street Journal, December 8, 2008.

  Tribune owns eight major daily newspapers, including the Los Angeles Times, Chicago Tribune and Baltimore Sun, plus a string of local TV stations.

Tribune Co. is preparing for a possible filing for bankruptcy-court protection as soon as this week, according to people familiar with the matter, in a sign of worsening trouble for the newspaper industry.

In recent days, as Chicago-based Tribune continued talks with lenders to restructure its debt, the newspaper-and-television concern hired investment bank Lazard Ltd. as its financial adviser and law firm Sidley Austin to advise the company on a possible trip through Chapter 11 bankruptcy, people familiar with the matter say.

Read the rest here =>
Recommend this Post



Sphere: Related Content

0 comments: