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Tribune Company Declares Bankruptcy

HeadlineDec 09, 2008

In media news, Monday was a turbulent day for the newspaper industry. The Tribune Company filed for bankruptcy. The company’s holdings include the Los Angeles Times, Chicago Tribune, Baltimore Sun, twenty-three television stations and the Chicago Cubs. Meanwhile, the McClatchy Company has put the Miami Herald up for sale, and the New York Times Company has announced plans to borrow up to $225 million against its mid-Manhattan headquarters building to ease a potential cash flow squeeze.

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