“The deal will place a motorcycle riding, epithet slinging multibillionaire atop of one of the most conservative, buttoned-down companies in America,” writes Michael Oneal. In normal times, an investor like Zell being in control of the fate of media properties would be odd, he says. “But these aren’t normal times. The Tribune saga provides the most dramatic evidence yet that the newspaper industry is caught in a set of crosscurrents that are likely to change the way news and information are delivered.” || Phil Rosenthal: How the deal went down.
> Wall Street seemed pleased, sending Tribune stock up 70 cents (NYT)
> Investors in various cities remain interested in buying Trib’s papers (Sun)
> It remains possible that pieces of the company could be sold (LAT)
> CEO FitzSimons says there are no plans to sell Tribune’s papers (Newsday)
> Deal puts more pressure on Tribune to reduce costs, jobs (Morning Call)
> Giles: How will debt load affect resources for Tribune papers? (USAT)
> “I don’t work for Tribune Company. I work for the Chicago Tribune” (NPR)