Monday, December 08, 2008

Chicago Newspaper goes Bankrupt.

Belly up for the Tribune. They might refloat their boat, but for now, they're insolvent. Hat Tip to Wizbang. Not that I didn't know it was coming. I was reading about it this morning while following the Obamarx Birth Certificate Story.

"Beside the Chicago Tribune, Tribune Co. owns the Los Angeles Times and other newspapers as well as several TV stations.

According to the filing, Tribune Co. has $7.6 billion in assets and $12.79 billion in liabilities. The company said it has moved to supplement its cash availability in case operating results take an even steeper decline through an agreement negotiated with Barclays to maintain post-filing its existing securitization facility."

How ironic that the first big newspaper to bite the dust is in Obamatown. Does anyone know who they endorsed for President?

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