Tribune posts Q4 loss
EmptyTribune posted a fourth-quarter loss Thursday and said it has begun a review that could lead to the sale of some of its properties.
The debt-laden newspaper publisher and broadcaster, which went private in a buyout last year led by real estate tycoon Sam Zell, reported a loss of $78.8 million in the fourth quarter, compared with a profit of $239.1 million a year ago. Revenue fell 12% to $1.27 billion.
Tribune is trying to sell the Chicago Cubs baseball team and Wrigley Field. It has also been cutting jobs through buyouts and layoffs to help trim expenses.