BREAKING: Tribune Hires Bankruptcy Advisers

This story was written by Rafat Ali.
Tribune, the Sam Zell-owned newspaper chain, has hired bankruptcy advisers in an attempt to stave off potential bankruptcy filing, reports NYT, citing sources. It is using investment bank Lazard and the law firm Sidley Austin, to try and restructure its crippling debt and assess its options, the story says. More to come

By Rafat Ali