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Today's Cheat Sheet
Developing
Xtra Insight
Tina Brown on the media's struggles.
Larry Kramer on the Tribune's troubles.

Tribune Co. Bankrupt

The Associated Press is reporting that the Tribune Company has filed for bankruptcy protection. Tribune Co., whose holdings include the Chicago Tribune, the Los Angeles Times, and the Chicago Cubs, has $13 billion in debt, largely from the complex transaction in which the company was taken private by Sam Zell last year. Tribune Co.’s next principal payment isn’t due until June, but it has been in danger of missing lender-imposed financial targets.

Read it at Associated Press
Posted at 2:06 PM, Dec 8, 2008
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Tribune Files For Bankruptcy Protection, Chicago Cubs, Tribune Co., Developing, Sam Zell, Chapter 11, Chicago Tribune, Newspapers, Ap, Debt, Associated Press, Los Angeles Times, Media, Financial Crisis
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