The Business Sheet has composed a list of media big wigs that have lost the most money this year.
Oh to have loved and lost…better than never loving at all? Or something?
Anyway, spoiler alert – Sam Zell is number seven on the list of twenty-four notable losers:
LOSS: As Much As $315 Million
During last year’s LBO boom, real estate mogul Sam Zell used $8.2 billion in debt to purchase multimedia company and Cubs owner Tribune Co. The deal was largely financed by employee contributions to a company stock plan and gullible banks. In December, the $13-billion-in-debt Tribune filed for bankruptcy. Zell could lose some of his $315 million investment.