The Chicago Tribune’s head office in Chicago. Newspaper companies across the US are closing their doors. Printers are losing money, NO ONE IS ADVERTISING and it’s Christmas.
Chicago, Ill: Now if this was the Tribune “The Toilet Paper” RAG in Nassau we would be jumping for joy, but no it was the Tribune in Chicago. Tribune Co., publisher of the Chicago Tribune and Los Angeles Times, sought bankruptcy court protection from creditors amid declines in advertising sales today.
The company, acquired last year by investor Sam Zell for $8.3 billion, listed assets of $7.6 billion and debt of $12.13 billion in a Chapter 11 petition filed today in U.S. Bankruptcy Court in Wilmington, Delaware.