One frequently floated solution to the newspaper industry’s woes: Find sugar daddies who are willing to fund them via an act of charity. Now, Los Angeles billionaire Eli Broad says he’s willing to do that to save his hometown daily.
Marketing a million square feet of office space occupied by a struggling newspaper company is a tough sell. So what does that mean for the New York Times’s effort to wring cash out of its Times Square building?
Nothing like a billionaire with a blog: Mark Cuban uses his this morning to explain that he’s still in the market for the Chicago Cubs–just not for $1 billion cash. Also, he’d like more time to raise money to buy the team. Sam Zell, are you listening?
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.
One of the country’s biggest newspapers may be headed for bankruptcy court. Tribune Company, which owns the Los Angeles Times, the Chicago Tribune and a host of other media properties, has hired the Lazard investment bank and law firm Sidley Austin to try to stave off a Chapter 11 filing. But that may not be enough: Owner Sam Zell, who took on substantial debt to buy the company for some $8 billion last year, is reportedly preparing for a possible bankruptcy filing “as soon as this week.”
Under normal circumstances, if the CEOs of big companies like Cisco, Microsoft, and Comcast speak in front of an audience of bigwigs, it’s news. But you’re unlikely to hear what John Chambers, Steve Ballmer and Brian Roberts say today and tomorrow at Quadrangle’s Foursquare conference–no press allowed. Unless…
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 »
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.
D is unlike any other executive conference. Since its debut in 2003, D has brought to life the energy and excitement of the digital revolution in an unscripted, upfront and unparalleled way. Read more »
Don't miss a post! Sign up for our Daily Email and get AllThingsD.com delivered each day.
Get columns, blogs and video from D and All Things Digital on your iPhone. Download now »
