Tribune Company Has Spent $231 Million on Bankruptcy
The Tribune Company, (abusive) parent company of the LA Times, has spent $212.9 million on lawyers fees and another $17.8 million on additional legal expenses since they filed for bankruptcy in December of 2008, according to a report in Crain’s.
And the river of wasted money isn’t drying up anytime soon. U.S. bankruptcy judge Kevin Carey recently said he wouldn’t hold hearings to end Tribune Co’s bankruptcy until May, at the earliest. Which, sadly, will most likely mean more layoffs, despite the company’s supposedly improving cash flow.
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