http://www.tribunewatch.org News of the Tribune Co. and the newspaper industery Copyright 2009 The Newspaper Guild en-us Tue, 09 Mar 2010 13:10:07 -0500 Tue, 09 Mar 2010 13:10:07 -0500 http://www.sjguild.org/rss/jpg/TribWatch.jpg http://www.tribunewatch.org 140 45 http://www.chicagotribune.com/business/ct-biz-0305-tribune-suit--20100304,0,978399.story A group of Tribune Co. creditors sued the banks behind the Chicago-based publisher’s 2007 leveraged buyout, saying the $8 billion in loans they arranged for the deal doomed it to bankruptcy. http://www.chicagotribune.com/business/ct-biz-0305-tribune-suit--20100304,0,978399.story http://denver.bizjournals.com/denver/stories/2010/03/01/daily29.html Any delay in confirming the bankruptcy plan of Affiliated Media Inc. — parent of Denver Post publisher MediaNews Group Inc. — will hurt the company’s business, its chief financial officer warned in a court filing. http://denver.bizjournals.com/denver/stories/2010/03/01/daily29.html http://www.pcmag.com/article2/0,2817,2360209,00.asp?kc=PCRSS03079TX1K0000584&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+ziffdavis%2Fpcmag%2Fdvorak+%28PCMag.com%3A+the+Official+John+C.+Dvorak+RSS+Feed%29 The New York Times is about to make a huge mistake. The paper thinks it can charge readers $360 or so a year for the privilege of browsing its pages on the iPad or Kindle. When will newspapers realize that the party is over? They can’t go on in this dream world. http://www.pcmag.com/article2/0,2817,2360209,00.asp?kc=PCRSS03079TX1K0000584&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+ziffdavis%2Fpcmag%2Fdvorak+%28PCMag.com%3A+the+Official+John+C.+Dvorak+RSS+Feed%29 http://www.chicagotribune.com/business/ct-biz-0217-tribune--20100216,0,6505151.story In advance of what promises to be a closely watched hearing Thursday in Tribune Co.’s Chapter 11 bankruptcy case, the U.S. trustee’s office asked U.S. Bankruptcy Judge Kevin Carey to appoint an examiner to investigate charges that Sam Zell’s 2007 leveraged buyout of the Chicago-based media conglomerate was improper. http://www.chicagotribune.com/business/ct-biz-0217-tribune--20100216,0,6505151.story http://www.reuters.com/article/idUSN1820648820100218?type=marketsNews Tribune Co was granted until the end of March to file a plan of reorganization and avoided the immediate threat of starting a "litigation nightmare" over its 2007 leveraged buyout. http://www.reuters.com/article/idUSN1820648820100218?type=marketsNews http://www.editorandpublisher.com/eandp/news/article_display.jsp?vnu_content_id=1004061423 A Delaware bankruptcy judge is ready to approve Tribune Co.’s request to pay bonuses of up to $45 million to hundreds of managers, including the media conglomerate’s top 10 executives. http://www.editorandpublisher.com/eandp/news/article_display.jsp?vnu_content_id=1004061423 http://www.minnpost.com/braublog/2010/01/21/15194/union_pioneer_press_the_only_medianews_paper_losing_money When Pioneer Press holding company Affiliated Media announced a pre-packaged bankruptcy Friday, the press release noted that of its 54 dailies and more than 100 non-dailies, "all but one of our newspapers is profitable." Turns out the unprofitable one is the Pioneer Press. http://www.minnpost.com/braublog/2010/01/21/15194/union_pioneer_press_the_only_medianews_paper_losing_money http://www.editorandpublisher.com/eandp/news/article_display.jsp?vnu_content_id=1004060492 Thirteen months after filing for bankruptcy reorganization, Tribune Co. said Wednesday its cash flow in 2009 will approach $500 million. That’s double what Tribune had estimated coming into the year, and more than executives had estimated in November. http://www.editorandpublisher.com/eandp/news/article_display.jsp?vnu_content_id=1004060492 http://www.denverpost.com/business/ci_14203922 Affiliated Media Inc., the holding company for MediaNews Group, and its lenders have agreed on a plan to restructure $930 million in debt, the Denver-based company announced Friday. The agreement swaps debt for equity, retains the current management team and excludes all of the company’s media properties. http://www.denverpost.com/business/ci_14203922 http://online.wsj.com/article_email/SB10001424052748703657604575005813195786280-lMyQjAxMTAwMDEwNTExNDUyWj.html The holding company of MediaNews Group Inc., the publisher of dozens of newspapers including the Denver Post and San Jose Mercury News, said Friday that it plans to seek bankruptcy protection, the latest in a string of troubled newspaper companies to seek refuge from creditors amid unsustainable debt loads. http://online.wsj.com/article_email/SB10001424052748703657604575005813195786280-lMyQjAxMTAwMDEwNTExNDUyWj.html