Zell: Tribune Co. likely to emerge from bankruptcy in coming months
Posted by Leah McBride Mensching on January 13, 2010 at 4:21 PM
Tribune Co. Chairman Sam Zell told CNBC today that he expects the U.S. publishing company to exit bankruptcy in the first half of this year, the Chicago Tribune reported.
"I think that an awful lot of the steps that the management of this company has taken to change the model, to reduce costs, to make the operations more efficient have all been coming through. So I'm very optimistic about the future of the company," he said in the interview.
"I think that an awful lot of the steps that the management of this company has taken to change the model, to reduce costs, to make the operations more efficient have all been coming through. So I'm very optimistic about the future of the company," he said in the interview.
Zell bought the Tribune Co., which publishes the Chicago Tribune and Los Angeles Times, in 2007. Due to a huge debt load taken on when Zell took the company private, Tribune filed for bankruptcy in December 2008.
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