Chicago-based Tribune Co., owner of Los Angeles Times, KTLA Channel 5, and Chicago Tribune, has filed for Chapter 11 bankruptcy protection as it seeks relief from $12 billion in debt. The company has $300 million cash, enough to cover the $70 million due today, but its lenders are said to be not keen on undertaking broader restructuring of debt.
Originally posted on December 8, 2008 @ 3:12 pm
well I hope this means mark cuban can buy the cubs now he would make them win