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December 9, 2008

Tribune Company Declares Bankruptcy
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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 Mc Clatchy
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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