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Monday, December 8, 2008

Join the club

Posted By on 12.08.08 at 12:12 PM

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"Tribune Co. is preparing for a possible filing for bankruptcy-court protection as soon as this week, according to people familiar with the matter, in a sign of worsening trouble for the newspaper industry." More at the NYT; via.

The NYT is taking out a $225 million mortgage on its new, Renzo Piano-designed headquarters, and Josh Marshall is skeptical: "I've been struck by how many of these companies took on massive loads of debt quite recently for reasons that strike me as at least questionable, given the paper to digital transition that was on the horizon." (Graphics explained here and here.)

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