TVNewser FishbowlDC AgencySpy TVSpy LostRemote PRNewser SocialTimes AllFacebook 10,000 Words GalleyCat UnBeige MediaJobsDaily

Tales of The Tribune Co.: What a Difference a $20 Million Day Makes

debt-clock.jpgAnd we thought our credit card bills were bad. Sam Zell‘s Tribune company released its quarterly results yesterday. The results included $3.8 billion used “to write down the Company’s publishing goodwill and newspaper masthead intangible assets.” (That’s more than three times what NBC has sold in Olympic ads, just saying.)

Portfolio points us to Alan Mutter who took the time to do the math and says that what these numbers boil down to is a loss of $20 million per day(!) since Zell took over the company. Maybe someone needs to make a Zell clock like the one that counts our national debt per person but in reverse and only for Zell.

Mediabistro Course

Get a Literary Agent

Get a Literary AgentStarting August 6, learn how to find the right agent for your book and write a query that will get the deal done! Taught by Barbara Clark, a book agent and publishing consultant, you will learn the best methods for finding a literary agent, the proper protocol and etiquette for seeking literary representation, how to send queries and more. Register now!