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NEWS ABOUT: Sam Zell

Sam Zell stories: 40 news summaries

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 Tribune Sells Cubs for $800M 

Family will pay $800M for 95% stake in team, Wrigley field

Aug 21, 09 4:45 PM CDT
(Newser) - It’s official: Tribune Co. has signed an agreement to sell a majority stake in the Chicago Cubs to the Ricketts family, the Chicago Tribune reports. Picked as the winning bidder for the franchise in January, family negotiated a deal to pay $800 million for a 95% stake in the... More »

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MLB • Chicago Cubs • Sam Zell • Tribune Company • Wrigley Field • Wrigley • Tom Ricketts

(Newser) - The bankrupt Tribune Company could emerge from protection with its top creditors—and not chairman Sam Zell—in charge, the Chicago Tribune reports. Zell exerts control based on $90 million he spent to secure the option of buying 40% of the company for $500 million, and a $250 million loan.... More »

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media • Sam Zell • Tribune Company • Citigroup • bankruptcy • debt • JPMorgan Chase • Chicago Tribune • newspaper industry • creditor • lenders

'I Made a Mistake' Buying Tribune Co.: Zell

Canny investor admits he backed a losing horse

Apr 15, 09 3:11 PM CDT
(Newser) - Sam Zell is famous for his business acumen. He made a near-psychic call to sell his office-property company for billions just months before the market tanked. But the magnate now tells Bloomberg another deal he made was as boneheaded, in retrospect, as the Equity Office Properties deal was prescient: buying... More »

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newspaper • Sam Zell • Tribune Company • mergers and acquisitions • business • acquisition • Equity Office Properties

(Newser) - Amid growing gloom in the newspaper business, the Los Angeles Times plans to lay off 300 workers and shelve its local news section, LA Observed reports. Foreign and national news will be downplayed to fit local stories into the front section, the publisher said in a memo today. Seventy newsroom... More »

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Sam Zell • Tribune Company • layoffs • Los Angeles Times • newspaper industry

 Family Buying Cubs for $900M 


Jan 22, 09 7:55 PM CST
(Newser) - It looks like the Cubs are returning to family ownership, the Chicago Tribune reports. The billionaire Ricketts family is the winning bidder to buy the baseball team from Sam Zell's Tribune Co. The $900 million deal isn't sealed yet—other baseball owners must approve, for one thing—but it's expected... More »

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Chicago Cubs • Sam Zell • Tribune Company • baseball

 Auction for Cubs Nears End 

But team a long way from sold

Jan 6, 09 12:43 PM CST
(Newser) - The bidding for the Cubs is nearly over. The Tribune Co. could select a winner from the three finalists within a week to 10 days, the Chicago Tribune reports, but that doesn’t necessarily mean the team is about to be sold. Tribune would still need to negotiate with... More »

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sports • Chicago Cubs • Sam Zell • Chicago • Tribune Company • bankruptcy • baseball

Tribune Bankrupt One Day, Engulfed by News the Next

Chicago institution breaks Blagojevich news, and is a player in corruption allegations

Dec 10, 08 9:32 AM CST
(Newser) - What a difference a day makes for the Chicago Tribune, which yesterday broke the story of Illinois Gov. Rod Blagojevich’s arrest, and was itself an object of his alleged corrupting intentions—just a day after its parent company declared bankruptcy, the Wall Street Journal notes. “It’s pretty... More »

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Chicago Cubs • Sam Zell • Chicago • Tribune Company • bankruptcy • Illinois • Wrigley Field • Rod Blagojevich • Chicago Tribune • editorial independence

 Tribune Company 
 Files for Bankruptcy 

Financing billions in debt becomes too onerous in down economy

Dec 8, 08 2:09 PM CST
(Newser) - The Tribune Company filed today for Chapter 11 bankruptcy protection, due to mounting debt and an inability to pay interest in the floundering economy, the Wall Street Journal reports. Tribune’s profits declined 83% in the third quarter, making it difficult to finance $12 billion in debt. The company has... More »

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Sam Zell • Tribune Company • bankruptcy • leveraged buyouts • debt • Los Angeles Times • Baltimore Sun • Chapter 11 • Chicago Tribune • financial crisis

 Tribune May File for 
 Bankruptcy This Week 

Saddled with debt, media company
looks at Chapter 11

Dec 7, 08 7:02 PM CST
(Newser) - The Tribune Co. has hired a financial adviser to help it file for bankruptcy as early as this week, the Wall Street Journal reports. Facing $12 billion in debt and shrinking profits, the owner of the Chicago Cubs and several newspapers has also brought in legal counsel to guide it... More »

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Chicago Cubs • Sam Zell • Tribune Company • bankruptcy • Los Angeles Times • Chicago Tribune • newspaper industry

(Newser) - Chicago Cubs brass expects the team to be sold by spring training, the Tribune reports. The chairman of the team, which is in the midst of a century-long title drought, says it is reviewing bids and could have a deal in place by February. Crane Kenney also shot down rumors... More »

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MLB • Chicago Cubs • Sam Zell • Chicago • Tribune Company • franchise • baseball • Crane Kenney

OPINION

Zell 'Clueless' About Journalism and Democracy

What he's done to, and says about, Tribune Co. shows fundamental misunderstanding

Dec 2, 08 3:37 PM CST
(Newser) - Sam Zell may or may not turn the Tribune Company around, but his ownership has crippled “real newsgathering,” Peter Osnos writes in the Daily Beast. “If Tribune goes down, he will still be very rich,” Osnos continues, “but he will have presided over the evisceration... More »

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newspaper • New York Times • Sam Zell • Chicago • Tribune Company • journalism • Los Angeles Times • print journalism • Chicago Tribune

LA Times Staffers Sue Zell
for Trashing Tribune

Boss not shooting straight: lawsuit

Sep 17, 08 10:15 AM CDT
(Newser) - A group of current and former Los Angeles Times journalists is suing the Tribune Company for recklessly mismanaging the chain of newspapers, the Wall Street Journal reports. The suit claims billionaire boss Sam Zell has trashed the company in a hunt for quick profits, destroying the value of their pension... More »

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newspaper • Sam Zell • Tribune Company • lawsuit • journalist • Los Angeles Times

LA Times Insider Launches Anti-Zell Blog

Anonymous journo bashes paper's owner as heads keep rolling

Jul 21, 08 8:14 AM CDT
(Newser) - Heads continue to roll at the Tribune Company, but one staffer is aiming to prove the pen is mightier than Sam Zell's ax, reports the New York Times, with new blog TellZell.com. The site is airing the gripes of Tribune's disgruntled journalists, and is finding plenty of fodder—from... More »

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newspaper • Sam Zell • Tribune Company • layoffs • journalism • blog • Los Angeles Times • insider information

 LA Times Publisher Exits 

Tribune Co. loses another top-level staffer as it prepares for big job cuts

Jul 15, 08 2:08 AM CDT
(Newser) - A bad day for the Tribune Company got even worse yesterday with the resignation of Los Angeles Times publisher David Hiller, Reuters reports. Hiller is leaving after less than 2 years with the paper as Tribune owner Sam Zell prepares to cut jobs again and reduce pages at his papers.... More »

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newspaper • Sam Zell • Tribune Company • publisher • Los Angeles Times • David Hiller

Chicago Tribune Editor Resigns Amid Cutbacks

Ann Marie Lipinski
ends 7-year run in job 'not the fit it once was'

Jul 14, 08 3:58 PM CDT
(AP) - Chicago Tribune editor Ann Marie Lipinski handed in her resignation today after 7 years in the top post at the Tribune Company's flagship paper. Lipinski's departure comes a week after the 161-year-old newspaper told its staff it would eliminate about 80 newsroom jobs amid a broad effort to cut costs... More »

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newspaper • Sam Zell • Tribune Company • editor • Los Angeles Times • Baltimore Sun • Chicago Tribune • Ann Marie Lipinski • Gerould Kern

 For Sale: Chicago Landmark 

Tribune Tower may hit market as Zell looks to pay down debt on giant media company

Jun 25, 08 9:44 PM CDT
(Newser) - Saddled by debt from his acquisition of the Tribune Company media empire, billionaire Sam Zell may sell off the iconic Chicago headquarters of the Tribune newspaper, he said yesterday. The 83-year-old Tribune Tower could fetch $250 million, analysts told the Sun-Times, with Zell likely needing to assure a new owner... More »

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Sam Zell • Chicago • Tribune Company • Chicago Tribune • Tribune Tower • Michigan Avenue

analysis

Zell's Tribune Co. Heads Toward Default on Loans

Newspapers reeling from low ad revenue

Jun 19, 08 5:43 PM CDT
(Newser) - As the newspaper industry continues its accelerating skid into the red, even billionaire Sam Zell's Tribune Company is on track to default on its massive loans as soon as the end of the year, an analyst predicts. The parent of the Chicago Tribune and Los Angeles Times is far from... More »

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media • newspaper • Sam Zell • Tribune Company • Chicago Tribune

OPINION

Zell Deserves Jail for 'Dumbed Down' Papers

'Visiting Visigoth' trashes serious journalism at LA Times

Jun 11, 08 12:35 PM CDT
(Newser) - Sam Zell isn't just diminishing the great newspapers he bought in acquiring the Tribune Company, Harold Meyerson writes in the Washington Post—he's doing a grave disservice to cities that have supported the likes of the Los Angeles Times. "Zell has taken bean counting to a whole new level,... More »

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newspaper • Sam Zell • Tribune Company • Los Angeles Times

Analysis

Sam Zell: Saving Newspapers, or Burying Them?

News cuts may stem advertising losses or hemorrhage them

Jun 9, 08 5:58 AM CDT
(Newser) - Sam Zell and his Tribune Company announced last week that they would trim 500 pages of news each week from the conglomerate's dozen newspapers, including the LA Times and the Chicago Tribune. But is a paper split 50-50 between news and ads the solution for an industry in crisis? The... More »

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media • newspaper • Sam Zell • advertising • Tribune Company • Los Angeles Times • downsizing • Chicago Tribune

 Honey, I'm Shrinking
 the Tribune Papers 

Zell plans to slice pages to offset $13B debt

Jun 6, 08 4:42 AM CDT
(Newser) - Publisher Sam Zell has announced he'll quickly slash pages and more editorial jobs to offset huge debts and  a larger-than-anticipated decline in advertising revenue at his newspapers, including the Los Angeles Times and Chicago Tribune. An 80-page edition of the Tribune could be sliced to 48 pages, reports the Chicago ... More »

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Sam Zell • Tribune Company • cost cutting • debt • Los Angeles Times • job cuts • newsroom cuts • Chicago Tribune

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