Newspapers Selling Off Assets
Tribune, meanwhile, told its employees Wednesday that it hoped to wring more value out of its “underutilized” real estate in Chicago and Los Angeles, extending an asset-selling program Tribune is pursuing to service a $13 billion debt load, much of which it took on from going private. -Washington Times – In ‘survival mode,’ newspapers slashing [...]Published July 1, 2008
Photography introduced me to the 'new media' evolution. I currently do community management at Tribune, meanwhile, told its employees Wednesday that it hoped to wring more value out of its “underutilized” real estate in Chicago and Los Angeles, extending an asset-selling program Tribune is pursuing to service a $13 billion debt load, much of which it took on from going private.
-Washington Times – In ‘survival mode,’ newspapers slashing jobs
Fantastic, the newspaper industry is in freefall. Selling assets just to cover your own costs is not a winning strategy. (I know, I played Railroad Tycoon ;) )Looks like the Tribune Co. is especially in trouble.