Tribune Co. files for bankruptcy

Tribune Co. files for bankruptcy

nwitimes.com

The owner of the Chicago Tribune, the Los Angeles Times, the Chicago Cubs and other properties has $13 billion in debt.

Severe reductions in advertising this year because of the recession has put pressure on the company. Most of its debt comes from the complex transaction in which the company was taken private by real estate mogul Sam Zell last year.

Although the next major principal payment isn't due until June, analysts say Tribune has been in danger of missing lender-imposed financial targets

(visit the link for the full news article)

Wow, so falls the first media domino.

This one is almost certain to repeat itself with some of the other media conglomerations over the coming months. They whored themselves out for commercial America, becoming a widely known band of money grubbers who cast aside America's ideals of a respected and honorable media in favor of appeasing their pimps in the advertising world and amongst the political machines who they backed in hopes of getting a piece of the corporate special interest monies in exchange for submarining important news in favor of encouraging consumption and mindless "news" issues being passed off as important (ie: the media's obsession with celebrities).

It is ironic, as they fall one by one, they will probably all be wondering where their bailout is. Why isn't the same Congress we serviced for free in the back of a station wagon in a dark alley every time they requested it from us noy stepping up and rescuing us in our darkest hour?

Wonder who will win the auction for the Cubs?

nwitimes.com
(visit the link for the full news article)

how does a company that makes millions of dollars of profits every year go out of business? i'm pretty sure they set some kind of attendance record last year. if they were gonna go bankrupt at least they could have won us a world series. this makes me sick!!!! companies that make millions in profits should put some of that money to the side for a rainy day. instead they stuff the ceo's and upper managements bank accounts.

Please fill in your bailout form in triplicate.

Two Lines

Should Read: Americas favorite pastime is bankrupt!

Not all, but Sad really...

reply to post by spitefulgod


She is right on target! First the companies announce they are going into bankruptcy, then they fill out their forms, and line up for the big "wahh please bail us out" march on the capitol steps.

Get ready Mr and Mrs taxpayer of America, your tax dollars are going to be worked even harder in the comming months. Doesnt it feel "good"?



Cheers!!!!

LMAO.... The more media bankrupcies happen, the better it is for the Citizens of the World.

you have to trully wonder what would happen when the news is free to say what it wants again.

Should be interesting.

Star and Flag. Keep them coming.