Biz: Sam Zell may have his exit card out of Tribune: Big banks
- Sam Zell, a real estate guy who knows very little about the newspaper industry, bought Tribune in 2007 largely using loans and debt. He regrets it. source
- The company went bankrupt last year, and in the process of radical rethinking, laid off tons of people – both in Chicago and nationwide. source
- Now, it sounds like Zell might have an out – bankers and investors could forgive his debt in exchange for the company. Wow. That’s … wow. source