Zell admits his 2007 Tribune deal was “a mistake”

ChicagoTribune.com
Sam Zell tells Bloomberg Television that he didn’t anticipate the steep decline in the newspaper business. “By definition, if you bought something and it’s now worth a great deal less, you made a mistake and I’m more than willing to say I made a mistake,” says the Tribune chief. “I was too optimistic in terms of the newspaper’s ability to preserve its position.”

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