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Monday, December 8, 2008

Tribune Files for Chapter 11; Who’s on the Hook?

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 has more than $1 billion by itself. But Tribune owes lots of money to lots of media companies, too.

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About Peter

Peter Kafka has been covering media and technology since 1997, when he joined the staff of Forbes magazine. Most recently, he has been the managing editor of the tech and media Web site, Silicon Alley Insider. Read more »

Ethics Statement

Here is a statement of my ethics and coverage policies. It is more than most of you want to know, but, in the age of suspicion of the media, I am laying it all out.

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