Sunday, May 11, 2008

Why Tribune has to sell Newsday

If you can imagine your mortgage payment tripling at the same time your take-home pay is shrinking, then you can understand the financial pain forcing the Tribune Co. to sell Newsday.The first-quarter earnings release issued by the company late Friday, which touts a $1.82 billion “profit” based on an technical accounting adjustment, dances around the magnitude of the challenge the company faces

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