Will Tribune declare bankruptcy this week?

TV Arts

Tribune's debt has caught up with them.  I doubt there are any quick buyers 
for the TV affiliates or even WGN America, so how can they get out of this 
mess in today's credit market?
Declare bankruptcy and reorganize, that's how.  Maybe they'll lose the
newspaper operation.  That's not the end of the world, though.  Some
major papers will go web-only in the next five years.  I think the
Washington Post will be first.  It's certainly ready to do it, and it's
been practicing for years in an effort to do it right.  Even now,
profits from the Post's web site are subsidizing losses on the print

Tribune's broadcast TV affiliates are cash cows.  If they're not making
money, then the wrong people are in charge.
Um...the newspaper stuff is the one part of the operation that they want to 
keep above all others.

Ad sales are down across the board for almost all local tv stations.  I'd 
rather own a local TV station that a local newspaper, but many of the 
revenue problems right now are the same.
Zell wanted the newspapers.

Bankruptcy isn't really due to lack of ad sales. Sam Zell loaded the
company up with debt, assuming its valuable assets would have been sold
by this point. None was sold.

The bad thing about the Sam Zell fiasco is that in purchasing Trib, he
made the old board of directors fabulously wealthy. They were the ones
who tanked the company in the first place, thanks to the mishandling of
the Times-Mirror (LA Times) purchase. They overpaid for that company,
assuming that their IRS problem would go away. It didn't.