Feb 17, 2010

Tribune Co. bankruptcy update

The U.S. trustee's office has ordered an investigation into claims that the deal Sam Zell crafted to purchase Tribune Co. amounts to a "fraudulent conveyance" because it put the company on an inevitable path to Chapter 11 bankruptcy.

Tribune owns the Los Angeles Times and Chicago Tribune, among other papers.

1 comment:

Anonymous said...

What ever happened to sam zells famous quips and smart aleck remarks? He doesn't appear to be a humorous as he was when he was buying the newspapers. Another clown tha didn't figure out that being rich doesnt give you brains and insight on how to run a business you know nothing about.

More time in bankruptcy...that'll help.