Tribune files for bankruptcy protection
Media conglomerate Tribune Co. filed for bankruptcy protection today, as the owner of the Chicago Tribune, the Los Angeles Times, the Chicago Cubs and other properties tries to deal with $13 billion in debt.
The Minneapolis Star Tribune, the 15th-largest daily US paper based on circulation, filed for bankruptcy on Thursday, one of the biggest US newspapers yet to financially flame out under a heavy debt load and a punishing decline in advertising revenue.