Corporate Bankruptcy
Tribune Company Files Chapter 11 Bankruptcy
December 15, 2008
Photo courtesy of cra.org
The Tribune Company owes JP Morgan
Chase over $8.5 billion and Warner Bros.
Television over $23 million.
Less than one week after the nations largest poultry producer went bankrupt, Tribune Company, one of the nations largest and best-known publishing firms goes bankrupt. The company owns and operates the Chicago Tribune, Los Angeles Times and a host of other market-leading newspapers and television stations.
Tribune Company, a $5.06 billion media and publishing company based in Chicago, Illinois, announced on December 8th that it and 110 of its affiliates had filed for Chapter 11 bankruptcy in the United States Bankruptcy Court for the District of Delaware. The Chicago Cubs baseball franchise, also owned by Tribune, is not part of the bankruptcy.
