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Tribune Co. files for Chapter 11

By Dennis Bouchand · Posted on December 8, 2008

Chicago-based Tribune Co., owner of Los Angeles Times, KTLA Channel 5, and Chicago Tribune, has filed for Chapter 11 bankruptcy protection as it seeks relief from $12 billion in debt. The company has $300 million cash, enough to cover the $70 million due today, but its lenders are said to be not keen on undertaking broader restructuring of debt.

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Topics: Media
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2 people thinks stuff!

  1. well I hope this means mark cuban can buy the cubs now he would make them win

    By green LA jobs on December 8, 2008 8:51 pm

  2. [...] it appears that no one is exempted from trying to hurdle that larger obstacles of trying to be financially capable of surviving this [...]

    By Job Cuts Frenzy Continues at Biz Crunch on December 9, 2008 2:31 pm

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