Tribune about to go broke?

[DMA 135]

http://dealbook.blogs.nytimes.com/2008/12/07/tribune-hires-bankruptcy-advisers/index.html?hp

 

I wonder what assets they'd have to shave off.

[qunewsguy 376]

Something tells me they'll get rid of WTXX in Connecticut plus the Hartford Courant. That paper bled huge readership numbers after they "reformatted" it under Zell (so many readers that I'm currently receiving 4 months FREE as a former subscriber as are a few of my friends). It can't be making much money at this point.

[DMA 135]

I could see AM New York being shuttered, hell, even a few of their largest stations. The thing is, who would buy them in this economy?

 

Edit: More detailed:

 

http://online.wsj.com/article/SB122868944355686385.html?mod=googlenews_wsj

[stevieboy247 42]

Is this the same company that's trying to sell the Chicago Cubs? Wow, that's ashame.

 

It would suck to see the Tribune Company go under (and I doubt that will happen), though I would imagine they would have to sell off their entire Television Division (should things get worse of course).

[mbhcity 3]

Is this the same company that's trying to sell the Chicago Cubs? Wow, that's ashame.

 

It would suck to see the Tribune Company go under (and I doubt that will happen), though I would imagine they would have to sell off their entire Television Division (should things get worse of course).

 

After what Zell said about Wrigley Field...I'd suggest it!

[qunewsguy 376]

It's official. AP News Alert at 1:45 pm EST:

 

NEW YORK (AP) - Media conglomerate Tribune Co. has filed for

bankrutpcy protection, pressured by high debts.

[tyrannical bastard 3471]

I wonder if Oak Hill Capital (Local TV) may end up absorbing Tribune's TV stations...since they already share management.

[stevieboy247 42]

If Tribune thinks about a possible merger, they should probably merge with Gannett. though both companies would probably have to sell off some of their assets to avoid going over ownership limits and such.

[A3N 996]

I wonder if Oak Hill Capital (Local TV) may end up absorbing Tribune's TV stations...since they already share management.

 

I doubt it, I hear that Local TV isn't doing so well either. One of the problems that Tribune is facing is not only the spending that they need to watch, but the management that they are hiring. They are alienating many of the loyal viewers/readers at their tv stations and newspapers and that isn't helping their bottomline since they are losing viewers/readers. Look at how bad KTLA has become, it's the joke of the L.A. market, and KSWB is a joke too. They need to re-think their strategy because it isn't working.

[Que 73]

One of the main reasons for Tribunes problems, is the way it pays off its debts. I read somewhere they had over $13B in debt, but only $7B in assets.

[DMA 135]

Well, Zell is the main problem. I wouldn't expect any of the top 5 market stations to be sold, only small markets, such as New Orleans. I wouldn't expect Trib to merge with anyone else, seeing as that would just worsen the debt.

[eyewitness_news 5]

If Tribune were to sell WTXX OR The Hartford Courant, who would buy them? Out of Zell's own recognizance, if I may, if he had his way, then Tribune would go down in flames. This means markets with Trib-owned newspapers and television stations could be affected by the Chap. 11 bankruptcy. Note the workforce cuts at The Los Angeles Times, The Chicago Tribune, The Sun-Sentinel of South Florida and The Hartford Courant.

 

Anoter question about WTXX is whether or not they will remain a CW affiliate if they were to be sold. Also, keep in mind that Seattle has TWO Trib-owned stations: KCPQ and KMYQ respectively.