Is Sam Zell about to walk away from the steaming pile of newspaper sludge he’s created?
So much for Sam Zell, newspaperman.
The developer, who arranged a controversial $11.7 billion employee buyout of newspaper giant Tribune only to see the company careen into bankruptcy a year later, is on the verge of giving up his claims to buy a huge stake in the company and, according to a source familiar with the matter, is ready to walk away from the company.
Sam, sell. Sam – sell. Sam sell!
Previously on FBLA:
- Tribune Co. Set to Receive Critical FCC Waivers
- Tim Rutten 'Surprised But Not Shocked' by LA Times Layoff
- LA Times Editor Responds to the NYT's Ill-Timed Sideswipe
- Columbia Journalism Review: Tribune Company Has 'No Plausible Reason' to Continue Running the LA Times