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Posted: LAObserved.com
Date: Aug. 18, 2009
About this cartoon: Sam Zell purchased the controlling interest in the Tribune Company, parent of the Los Angeles Times (whose building is shown here) and Chicago Tribune, over-leveraging himself just in time for the newspaper business to collapse. Zell has had to sell off assets and make repeated staff and sectin cuts at the newspaper properties (which already disliked him for his odd attitudes toward journalism), prompting creditors to look for ways to restructurew the debt... while getting Zell the hell out of the picture.
