Tribune Files For Bankruptcy: Zell's Letter
Catch up on today’s massive story — the Tribune Company has filed for bankruptcy. After the jump, we’ve obtained owner Sam Zell’s letter re: the bankruptcy (choice bit: “This filing should not impact the way you do your jobs on a day-to-day basis. We will continue to operate responsibly in a challenging environment — aggressively managing costs and maximizing revenue opportunities”).
Sent: Monday, December 08, 2008 1:53 PM
Subject: Today’s Announcement
Partners,
We just announced that Tribune is restructuring its debt under Chapter 11 protection.
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