New York Times isn’t the only one in trouble, today news rolled out that the Tribune is seeking courts assistance in regard to bankruptcy. The company has suffered various blows ever-since Sam Zell the Chicago property magnate acquired it for $8.2 billion last year. However Sam, who is Tribune’s chairman and CEO calmed the growing concerns by addressing reporters that it wont have much impact on the working of the company:
This filing is all about relieving the pressure on the company from too much debt. We believe we can operate normally.
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