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Word from the Tribune reorganization talks: Zell may be out

Joan Jacobson 1 year ago, June 8, 2009 View Comments

COLD TYPE: A Baltimore Media Blog

By JOAN JACOBSON

 A spark of hope for the newspaper industry arrived today in the form of a Chicago Tribune story that quoted unnamed sources who said the U.S. Bankruptcy Court overseeing the Tribune Corporation’s reorganization may transfer control of the company from Chicago billionaire Sam “the Gravedancer” Zell to a group of investors and banks that hold more than $8 billion in debt.

 At the moment, this possibility raises more questions than it answers. In Baltimore, the obvious question is:  would the investors be more willing than Zell has been to peel off the Sun to local buyers, such as former Baltimore County Executive Ted Venetoulis and Abell Foundation President Bob Embry?

 
 But the Tribune article notes it is possible that the investors would take over the papers, but keep Zell at the helm. That certainly would turn one old cliché on its head – ‘Better the devil you know than the devil you don’t know.’

 In Zell’s case, any other devil would be an improvement.

    The Daily Drip

    • September 2, 2010

      • Highlights from Investigative Voice’s coverage of pretrial deliberations, as three men go on trial for the 2008 killing of Baltimore City Councilmember Kenneth H. Harris. “You look at my face when you’re talking to me!” Circuit Court Judge David Ross said yesterday to Assistant State’s Attorney Cynthia M. Banks, who was reading from a notepad [...]

      • Here’s another opportunity for Baltimore bicyclists to assert themselves: city transportation officials are installing an automatic bike counter on the Fallsway. This comes from a bulletin from the city Department of Transportation, which tells cyclists to “just look for the diamond-shaped groove and ride over it. “If we have the traffic numbers and public support,” [...]

    • September 1, 2010

      • Mayor Stephanie Rawlings-Blake has announced that the famous Georgia-based Le Mans racing series will participate in the Baltimore Grand Prix racing events this weekend.

      • The unidentified gun man who allegedly entered and fired shots inside the Discovery Communications building in Silver Springs, MD some time earlier today has supposedly released the following list of demands, which are published on a website with the URL http://savetheplanetprotest.com, the link to which has been circulating around Twitter.  Discovery Communications is the umbrella company [...]

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