Tribune Takes Huge Q2 Loss on $3.8 Billion Write-Down

In one fell swoop, the Tribune Co. took nearly half the value of the Times Mirror acquisition off its books. On Wednesday, the company reported a staggering Q2 loss from continuing operations of $3.8 billion on a goodwill impairment charge of $3.8 billion, due almost entirely to the Times Mirror purchase. That March 2000 transaction of $8 billion was once the largest newspaper deal in history.