Tribune To Cut More Jobs, Freeze Pay

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: Trib to cut more jobs, freeze pay : Bloomberg News : Published: 2/9/2009 8:34 AM : ------------------------------------ : Tribune Co., the second-largest newspaper publisher in the U.S., will have another round of job cuts, isn't filling open positions, and won't have merit pay increases this year, the company told workers in a memorandum. : Tribune filed under Chapter 11 in December after being acquired in December 2007 in a $13.8 billion leveraged buyout led by Sam Zell. : It listed $13 billion in debt for borrowed money and assets of $7.6 billion. Tribune owns the Chicago Tribune, Los Angeles Times, six other newspapers, and 23 television stations, in addition to the Chicago Cubs professional baseball team and Wrigley Field in Chicago where the team plays. : Neither the team nor the field is in bankruptcy. The case is In re Tribune Co., 08-13141, U.S. Bankruptcy Court, District of Delaware (Wilmington).

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