LA Times / Chicago Tribune -- bankrupt... NY Times close

[TheHoff]

http://www.google.com/hostednews/ap/article/ALeqM5gNDAWajvnGvxJuuFKhrXzcCGU30QD94UMRPG0

Media conglomerate Tribune Co. has filed for bankruptcy protection.

The owner of the Chicago Tribune, the Los Angeles Times, the Chicago Cubs and other properties has $13 billion in debt.



Hear that? It is classic print photojournalism dying....

[Tumeg]

WOW.....
$13,000,000,000 in debt.... lol....
I have nothing else to say >.<

[photoguy6405]

Billion?!? With a 'B'? Wow.

Of course this doesn't necessarily mean they're going away, just "reorganizing".

[dekalbSTEEL]

Most of that is owed to that no-fielding, "I ain't batting 5th", earring-wearing hot dog Soriano!

[saturnin]

i'm surprised it isnt on the front page of cnn and other online sources..hmm

or is it?

[Karl Johnston]

How do you get 13 billion in debt? Honestly...

[FlyingPhotog]

Most of that is owed to that no-fielding, "I ain't batting 5th", earring-wearing hot dog Soriano!

Reports I've read claim the Cubs financials are not part of the deal...strictly Tribune Media.

[FlyingPhotog]

How do you get 13 billion in debt? Honestly...

Corporations get billions in debt the same way individuals get tens of thousands of dollars in debt.

Be it cash or credit, more goes out than comes in. Probably the most basic topic in Economics 101

[TheHoff]

Here it is on CNNMoney, including how the NYTimes is facing a $400 million debt repayment soon that they likely cannot make and they may have to re-mortgage their new building.

http://ridingtheelephant.blogs.fortune.cnn.com/news/newsfeeds/siliconalley/media/2008_12_tribune_almost_toast_new_york_times_next.h tml

more on bloomberg: http://www.bloomberg.com/apps/news?pid=20601103&sid=a_2cbnu9ybdg&refer=us


but nothing on NYTimes.com yet...

[Dan-o]

How do you get 13 billion in debt? Honestly...

There liberal bias has turned a lot of people away. I used to be a subscriber (Los Angeles Times)and every time they call I tell them "I just want the news reported not your political spin. Let me know when that happens."

[photoguy6405]

Just six months ago, in a completely different credit climate, they probably could have worked around the debt. Today, not necessarily. Their options have probably dried up just as it has for the average Joe.

[TheHoff]

More historic closings for very old and well-established newspapers:

Rocky Mountain News -- http://news.google.ca/news/url?sa=t&ct2=ca%2F0_0_s_0_0_t&usg=AFQjCNEYb33o7sbYWTYXavzGyPro0l0XQw&cid=1307993933&ei=kumnSdjiG6GmlQSSueamAw&url=http%3A%2F%2Fwww.bloomberg.com%2Fapps%2Fnews%3 Fpid%3D20601103%26sid%3DaJ.XFQ14Qu9M%26refer%3Dus

SF Chronicle isn't far behind -- http://news.google.ca/news/url?sa=t&ct2=ca%2F0_0_s_0_0_t&usg=AFQjCNF7AHAxXtp7Wm4zmEIqlbHh_qwRDg&cid=1307910243&ei=p-mnSejZOIrKlQSszZCnAw&url=http%3A%2F%2Fwww.reuters.com%2Farticle%2FhotSt ocksNews%2FidUSTRE51O03Y20090225

Detroit News, Detroit Free Press, Philly Inquirer and others have filed for bankruptcy / reorganization and are close to shutting down as well. Now less than 10 major cities have competing daily newspapers.

[airfrogusmc]

There liberal bias has turned a lot of people away. I used to be a subscriber (Los Angeles Times)and every time they call I tell them "I just want the news reported not your political spin. Let me know when that happens."

The Chicago Trib is and has always been a conservative paper. ;)

[HarrisonClicks]

How do you get 13 billion in debt? Honestly...

After a few years on POTN, and an online account at BH Photo...... ok, i can see that...

[Apexer]

There liberal bias has turned a lot of people away. I used to be a subscriber (Los Angeles Times)and every time they call I tell them "I just want the news reported not your political spin. Let me know when that happens."

Beat me to it.

My local dead fish wrapper called and wanted me to renew my subscription. I told them their paper wasnt suitable for bird cage lining, and asked they not call back. They didn't.

After a few years on POTN, and an online account at BH Photo...... ok, i can see that... LOL

[TheHoff]

It is fun to mess with telemarketers but I doubt any of them that you harangue with your political leanings actually work for the newspapers in question. They are hired independent telemarketing firms and I doubt they are noting your feedback.

[Apexer]

I wasnt messing with him. That is exactly how strongly I feel about the state of the media today. If enough people state WHY they are displeased, the word gets back, service improves, or the entity dies.

slighthijack