Monday, Dec 08, 2008
Newspapers going bust now!!!
cnn: Tribune Co. files for bankruptcy
"Factors beyond our control have created a perfect storm - a precipitous decline in revenue and a tough economy coupled with a credit crisis that makes it extremely difficult to support our debt," said Sam Zell, chief executive of Tribune
Posted by mark @ 07:35 PM (398 views) Add Comment
2 Comments
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1. little professor said...
This is real domino stuff - falling house prices lead to screwed banks, who can't lend to small businesses, who then can't afford to run their companies or advertise in newspapers, who then go bust.
The LA Times and Chicago Tribune are huge newspaper titles - I'm sure they'll survive this bankruptcy procedure
2. Planning4acrash said...
They'll just get bought by shills in Wall Street via the bailout money. We'll just see more consolidation within the media oligarchy.