Sunday, December 7, 2008

Tribune = Bankrupt?

Uh oh. The Wally Jay reports that the Tribune Co., owner of the Baltimore Sun, is "preparing for a possible filing for bankruptcy-court protection as soon as this week." Yike! "The company's cash flow may not be enough to cover nearly $1 billion in interest payments due this year, and Tribune owes a $512 million debt payment in June." The company's been staying ahead of its debt payments so far by selling off assets, but is running out of options.
More from the NYT

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