Tribune Files for Chapter 11; Who’s on the Hook?
by Peter Kafka
Posted on December 8, 2008 at 12:07 PM PT
As predicted, Sam Zell’s Tribune Co. has filed for Chapter 11 bankruptcy protection. In the company’s initial filing, it lists assets of $7.6 billion and $12.9 billion in liabilities.
Much of that debt belongs to big banks, of course–J.P. Morgan (JPM) has more than $1 billion by itself. But Tribune (TXA) owes lots (though much smaller amounts) of money to lots of media companies, too–mostly dollars that the company’s TV stations owe various studios.
Here’s who’s on the hook:
- Time Warner’s (TWX) Warner Bros. Television: $23.7 million
- News Corp.’s (NWS) Twentieth Television: $8.1 million
- Disney’s (DIS) Buena Vista Entertainment: $6.2 million
- GE’s (GE) NBCU Domestic TV: $4.9 million
- Sony’s (SNE) Sony Pictures Television: $2.2 million
- Nielsen Media Research: $1.9 million
- Viacom’s (VIA) Paramount Pictures: $1.69 million
Here’s the complete filing (click button on top right to enlarge):
Tribune’s Bankruptcy Filing
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Comments
As a 20 year retired veteran of The Chicago Tribune, this certainly is a sad day indeed.
Posted by Bob Srednas at December 8th, 2008 at 1:19 pmCol. McCormick will surely roll over in his grave with this news
Times change , but Zell doesn’t.