Tribune Co. Mulling Bankruptcy
The Tribune Co., the media conglomerate bought by real estate mogul Sam Zell in an extremely leveraged deal in December 2007, has hired advisers to assist with a potential bankruptcy filing, according to multiple published reports. The company continues to work feverishly to try to restructure its debt agreements with lenders, as the company's declining cash flow puts it in danger of being in default of its loan convenants.
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