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On December 20 2007 the Tribune Company's Sam Zell said “I’m sick and tired of everybody talking about and commiserating about the end of newspapers. They ain’t over.” The Tribune is now in bankruptcy having lost $121.6 million in the third quarter as sales dropped 10%. Publishing revenue declined 13% to $653.6 million. Newspaper ad sales fell 19% steeper than the 15% slides in the first and second quarters. At McClatchy (MNI) the third largest newspaper company in the United States through the first 10 months of 2008 our advertising revenues are down 17.4%. Last month the New York ...

Gains continue for stocks with strength seen in auto shares.

Investors embraced President-elect Obama's announcement of the largest infrastructure investment plan in fifty years by boosting the markets to a sharply higher close with the Dow soaring 299 points to 8934. Nasdaq jumped 62 points to 1572.

Journal's ad scheme adds to bird cage liner pile.

Consumer Confidence Hovers Near Low; Peru Stock Market Turns a 180; Air Canada Changes Direction; Barclay’s Holding iShares Sale Talks; Mexico Wants $40 Billion from IMF; Second Chicago Paper Goes Bust; Private Equity Firms May Invest in “Toxic” Assets; Google Forms Venture Capital Arm

• U.S. consumer confidence, as measured by the…

Consumer Confidence Hovers Near Low; Peru Stock Market Turns a 180; Air Canada Changes Direction; Barclay’s Holding iShares Sale Talks; Mexico Wants $40 Billion from IMF; Second Chicago Paper Goes Bust; Private Equity Firms May Invest in “Toxic” Assets; Google Forms Venture Capital Arm U.S. consumer confidence, as measured by the Conference Board’s ...

Chicago-based news media stalwart Tribune Company (TXA) today announced it is filing for bankruptcy protection, less than 2 years after billionaire real estate mogul Sam Zell took the company private. Geez…and here we thought Zell had the magic touch based on the fact that he sold Equity Office Partners at the ...

US stocks finished sharply higher on Monday as President elect Barack Obama on Saturday announced a massive spending plan in order to boost a struggling economy. Monday’s rally was also supported by prospects of lawmakers nearing automakers’ bailout.[More...]

Sam Zell’s uber-leveraged media and entertainment Tribune Co. (TXA), which owns eight major daily newspapers, including the Los Angeles Times, Chicago Tribune and Baltimore Sun, and a string of local TV stations — seems to be headed toward a possible filing for bankruptcy-court protection as soon as this week, according to Wall Street Journal. From the [...]