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The day's other headline from Chicago had a true national impact. The Tribune media company, publisher of Chicago Tribune, Los Angeles Times and Baltimore Sun, declared bankruptcy, mired in $13bn in debt. Tribune also owns the Chicago Cubs and a score-or-so of local television stations nationwide. CBS' Ben Tracy, filing from Los Angeles, observed that Tribune's owner Sam Zell incurred much of the debt just last year by taking the company private. ABC's John Berman (no link) took the bankruptcy as symptomatic of hard times for newspapers generally. He ticked off Miami Herald, The New York Times, Orange County Register, Houston Chronicle, Detroit News and Boston Globe as other titles suffering through tough times. Berman pointed to the classified ads: "Real estate, cars and help wanted are all disappearing."
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