Wednesday, August 13, 2008

Trib value fell $20 million a day under Zell

Sam Zell may have set some kind of record in the speed he was forced to write down a significant portion of the value of the Tribune Co.Barely six months after acquiring Tribune at a value of $13.2 billion, the company charged off $3.8 billion in newspaper assets, trimming 29% of the value of the enterprise the Zellistas took over in an employee stock ownership plan on Dec. 20, 2007. The writeoff

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