Tribune Filing for Bankruptcy?

December 8, 2008 on 12:23 pm | In Finance | Comments Off

Looks like we’re in for another round of bankruptcies and this time we may see Tribune Co., parent of the Chicago Tribune, filing for Chapter 11.   In addition to owning the Chicago paper, Tribune Co., also owns the Los Angeles Times, as well as several other newspapers, plus the Chicago Cubs major league baseball time and the stadium they play in, Wrigley Field.

Tribune Co., has hired financial advisors to look into ways of restructuring their current debt which is in the neighborhood of $12 billion.  Advertising revenue, a mainstay of revenue for  newspapers, has been on a steady decline over the last few years.

Is print news going the way of the dinosaur?

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