2/08: Tribune owner curses Orlano Sentinel employee
The Tribune Company, parent to the Orlando Sentinel, officially filed for bankruptcy Monday. The good news is, according to this New York Times article, Tribune wouldn't benefit from selling it's papers, so hopefully the Sentinel will stay put long enough for some changes that will make the company viable again.
Putting papers up for sale, as several troubled companies have done, will not solve the industry’s problems, said David C. Joyce, a media analyst at Miller Tabak & Company, a small investment banking firm.
“Selling assets also means selling off cash flow, and they need that cash flow to service the debt,” he said. “And any sales would be fairly close to fire-sale prices, because people aren’t buying assets, especially in the newspaper business.”