Trib Co. Facing Bankruptcy Emergency
Tribune Co. is “preparing for a possible bankruptcy-protection filing as soon as this week, according to people familiar with the matter, opening a new front of trouble for the newspaper industry,” the Wall Street Journal reported late Sunday.
“As Tribune continues discussions with its lenders to rework its debt load, the newspaper-and-television concern in recent days has hired Lazard Ltd. as its financial adviser and a legal counsel for a possible trip through bankruptcy court, according to people familiar with the matter.
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