[Peace-discuss] more too big to fail bail out on the horizon

[LAURIE SOLOMON]

It looks like the next bailout request will be coming from the newspaper
industry.  Since Democracy is dependent on the existence and freedom of the
press to keep its citizenry informed, I can see newspapers, radio, and TV
making claims equivalent to the "Too big to let fail" ones used by others to
get bailout money.  It will probably go along the lines of "too important to
Democracy to let fail."

 

Tribune Hires Advisers to Help Stave Off Bankruptcy
http://www.truthout.org/120808O Michael J. de la Merced, Richard Perez-Pena
and Andrew Ross Sorkin, The New York Times: "Tribune has hired bankruptcy
advisers as the ailing newspaper company faces a potential bankruptcy
filing, people briefed on the matter said. The newspaper, which was taken
private last year by billionaire investor Samuel Zell, has hired advisers
including Lazard and Sidley Austin, one of its longtime law firms, these
people said. Tribune has been hobbled by debt related to that sale last
year, which has been compounded by the growing drought of advertising for
newspapers. It is only the latest - and biggest - sign of duress for the
newspaper industry yet."

 

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