Tribune Toast

The company filed for bankruptcy with nearly $13 billion of debt and $7.6 billion of assets.

Brilliant banks and creditors on the hook include:

  • ¬†JPMorgan Chase
  • Merrill Lynch and
  • Deutsche Bank.

Per the NYT, JPMorgan also syndicated its debt to folks like Kohlberg Kravis Roberts‘s KKR Financial, Highland Capital Management and Davidson Kempner Capital Management.

And, then, of course, there are the poor Tribune employees, who own a lot of the equity.

See Also: Tribune (Almost) Toast, New York Times Next?

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