NYT: Tribune company considers bankruptcy
Tribune went private last December, paying more than $8 billion in a deal that put Samuel Zell, a real estate billionaire, in control of the company. It has struggled since then under the resulting debt, forcing deep cuts at its newspapers.
Los Angeles is one of many cities around the country faced with the possibilities of losing its paper. ::ahem:: Geffen ::ahem:: Even the Grey Lady herself has been forced to borrow against its Manhattan headquarters.
In other news, I’m hearing great things about a new penthouse loft with great views of city hall.
