The Tribune Corporation is in the works of its very last fight in court this week, which means there are only two steps left until the newspaper publisher is able to come to an end with the bankruptcy. The process has gone on for several years now, three years to be exact, but the company is now finally at the end of its bankruptcy case, with just a few months remaining. After the court sessions are all completed, the Tribune will have different owners from before, which includes JPMorgan Chase, as well as Oaktree Capital Management.
It is possible that the new owners will choose to sell some of the assets of the Tribune, especially since newspaper print is not as popular now that there is a lot more online competition than there ever was before. The Tribune is currently the owner of the Los Angeles Times, as well as the Chicago Tribune and a number of different radio station and television broadcasts. The value of newspaper has declined by at least 50 percent within just the past few years, which is not a good sign for newspapers. In fact, the Tribune is not the only company to have gone through the bankruptcy process. The Philadelphia Inquirer, as well as the Philadelphia Daily News, went through the same process back in 2010, shortly after the recession came to a halt but during a period in time when the economy was in turmoil. The papers sold at the beginning of the 2012 year for nearly $55 million, even though they were expecting to earn $139 million several years before.
One of the main problems with newspaper is that there are just too many different newspapers, all of which provide relatively the same type of information. The newspapers that have the most unique content are often able to stand strong, even during a time in which newspaper sales are declining, while those with less unique content are dealing with struggles and eventually end up shutting down completely. With the Tribune, new owners will likely focus on being able to control the company and will then probably put some of the assets of the Tribune on the market. It is believed that they may capture the eyes of some vanity buyers. Under the plan it has chosen, Tribune can finish off their bankruptcy while still holding onto all assets that it owns. The new leaders have not provided insight as to what they plan to sell after the bankruptcy process is finally completed. The end of the court process has been anticipated for quite a while, as the Tribune and its leaders have been dealing with the federal court in Wilmington for over three years now.
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