The owner of the Chicago Tribune, the Los Angeles Times, the Chicago Cubs and other properties has $13 billion in debt. more ›

According to the Wall Street Journal, media mega-corp Tribune, parent of our Los Angeles Times, has sought legal counsel recently that would help the fumbling company "for a possible trip through bankruptcy court." The filing, some speculate, could happen as soon as this week. The WSJ explains:

Tribune has been on wobbly footing since last December, when real-estate mogul Sam Zell led a debt-backed deal to take the company private. Tribune so far has stayed ahead of its $12 billion in borrowings with the help of asset sales, but now dwindling profits are tightening the noose. The company's cash flow may not be enough to cover nearly $1 billion in interest payments this year, and Tribune owes a $512 million debt payment in June.

Murray Fromson of USC laments the end of the LA Times' Washington Bureau today on the Huffington Post: "Neither the Chicago Tribune or its subsequent owner, Sam Zell, have understood the degree to which the Times' reporters and editors in Washington helped subscribers and other readers in Southern California and beyond understand the complexities of national politics. Neither television or the internet did that... The Washington bureau peaked at 40 reporters and seven editors by 2004 under Doyle McManus who then was forced to watch the bureau disintegrate in recent weeks." more ›

The Los Angeles Times went against its recent tradition of not taking sides in presidential elections and endorsed Sen. Barack Obama, calling him "the competent, confident leader who represents the aspirations of the United States." more ›

Twenty-four months, three LA Times editors gone, one reason: budget cuts. Jim O' Shea, editor of the LA Times was fired by Times Publisher David Hiller for failing to carry out $4 million in budget cuts at the paper. Apparently, Hiller wanted the money cut during the presidential campaign, a time when newspapers' budgets usually spike. This is the third editor to be fired over two years over the same budgetary issue. Do we sense a pattern here? more ›

The media is certainly getting a little whacky. Today, the Chicago Tribune has an interview with Hizzoner, the former and now deceased Mayor Richard J. Daley of Chicago. deceased or not, here's what's up:

He's bothered by news reports that Steven Spielberg is planning a movie of the disastrous 1968 Chicago Democratic National Convention, starring the guy from "Borat" as leftist protester Abbie Hoffman. more ›

The Pasadena Star-News is looking for you. Or if there are problems to rant about in general throughout the SGV, then the San Gabriel Valley Tribune might be where you go. Or hey, same goes for Whittier and the Whittier Daily News. "It's a new year and we are on the lookout for letters to the editor. If you have a person that wants to write one, or is expressing an opinion on an article or photo, direct them to write a letter to editor..." That's Mickie of Mickie's Zoo talking. She's a professional belly dancer (swords are her specialty), a singer in a rock band and a full-time journalist. She also has been crowned the Queen of the 31st Occasional Pasadena Doo Dah Parade that will take place on January 20th. more ›

• Tribune Company CEO Dennis FitzSimons will be stepping down at the end of the year, letting Chicago businessman Sam Zell take over the company. The Tribune Company owns the Los Angeles Times.
• President Bush signed a huge Energy Bill yesterday, in hopes of "reducing our dependence on oil, confronting global climate change, expanding the production of renewable fuels and giving future generations of our country a nation that is stronger, cleaner and more secure."
• Looks like Sean Preston and, uh, the other little Chee-to whose name escapes us will have a little fucked up cousin very soon! Jamie Lynn Spears, following in her sister's dirty, unshod footsteps, got herself knocked up.
• California's population has grown by 11.5% since 2000 -- but the annual growth rate has slowed overall, possibly due to slower job growth: "Those who left... were fleeing an economy in which just 5,800 jobs per month were created -- down from more than 20,000 per month the previous year."
• Sean Penn's road-trip flick "Into the Wild" garnered four SAG Award nominations, including one Best Lead Actor nod for star Emile Hirsch. SAG has reached an agreement with the writers guild that will allow the ceremony to proceed as planned.
• This week's rainfall brings California's yearly total up to the seasonal norm. More relief may still be on the way.
• Approximately 25,000 residents in Northridge and other parts of the Valley were affected by power outages yesterday. Cal State Northridge shut down classes, but power has been restored to most customers.
• There may be hope yet for television in the New Year! Stephen Colbert & Jon Stewart will return to cable on January 7th without their writing staff. Stewart and Colbert commented: ""We would like to return to work with our writers. If we cannot, we would like to express our ambivalence, but without our writers we are unable to express something as nuanced as ambivalence."

There I was, minding my own on the Red Line, screeching along toward Hollywood and Western, reading the ad copy on the walls. I'd seen the cross-promotional Metro-Wicked ads before, but I noticed something different this time: the witch is reading a copy of the Los Angeles Tribune. (Hed: "Metro Named America's Best Transportation Agency.") Two questions: First, why isn't she reading the Times? It's probably because Metro's marketing department wanted badly to include... more ›

Hear that sucking sound? The media's commitment to learning from its many recent mistakes in reporting ethics and the semantics thereof is again being sucked out of the collective memory hole. Two years ago, Hurricane Katrina survivors were initially referred to by numerous media outlets as "refugees." While "refugee" can be inferred to be descriptive of one who "takes refuge," the fact is that -- at least since the 1951 approval of the UN Convention... more ›

Ducks 3, Predators 1 - Another day, another 28 saves from Jean-Sebastien -- Giguere , that is. The southern JS notched his first win in goal this season after coming back from a sports hernia. Rookies Petteri Wirtanen and Drew Miller both netted their first career goals in the third period ... The Ducks continue to struggle on the power play. They were 0-2 last night against Nashville and are now 3-36 on the season.... more ›

Photo by victoriabernal via the LAist Featured Photos pool on Flickr more ›

Since you know LAist is crazy about bacon, how about this burger made of ground bacon? [Serious Eats] In the meat-eating corner: Ted Nugent! In the meat-free corner: Paul McCartney! Read what Nugent really thinks about the folks in the music biz he knows who have been "Fired for eating meat by an animal-rights maniac, hard-core vegan bass player." [Waco Tribune-Hearld] David Haskell of Bin 8945: Chowhounds can be so tasteless, bloggers mean business... more ›

Even with LeBron leading his Cavs to much needed victory in the Eastern Conference Finals Tuesday night, the biggest story in the NBA is a team who has not played a game in exactly four weeks. The Lakers offseason has just been too wildly entertaining to take a backseat to the actual action on the court. And it just got better. Early Tuesday, team owner Jerry Buss was arrested in Carlsbad for suspicion of drunk... more ›

There are very few companies putting out consistently funnier ads than Jack in the Box. Their latest is a jab at the Angus burger trend that was adopted by Burger King and Carl's Jr., and has recently been picked up by McDonald's. Instead of following the leader, Jack in the Box decided to promote their Breakfast is the Most Important Meal of the Day campaign, hyping their breakfast-served-all-day advantage, and then they tried their... more ›

- Bring popcorn: The MacArthur Park Task Force's first meeting is Monday at 6pm at Charles White Elementary School, 2401 Wilshire Blvd. - NBC4 more ›

In like a fox and out with a yodel? Microsoft wants to buy Yahoo for $50 billion. Many have speculated that Microsoft would eventually spring for big Y, as a marriage with the online media giant increasingly appears to be the most viable option to compete with Google in the great war of search and online advertising. Always a fun rumor to kick around, but today it's being corroborated by the WSJ, and considering... more ›

Los Angeles-based defense attorney Stefani Schaeffer wins 'Apprentice: Los Angeles'. Isn't that nice, Ivanka has a new intern. - Chicago Sun-Times Modern Middle Eastern Artists from Traditional to Graffiti @ LACMA, Sunday, April 29th. Interesting. - Persian Mirror LA Times, Chicago Tribune will cut a combined 250 employees. - IHT Drew University sues Los Angeles County for $125 Mil for the mishandling of operations at King-Drew Medical Center - CBS2 Basinger 'hires bodyguard for... more ›

Apprentice "Los Angeles" finale tonight, live from Hollywood Bowl. Can I be Ivanka Trump when I grow up? - BuzzSugar California Democratic House member Juanita Millender-McDonald, 68, dies of cancer - San Luis Obispo Tribune Baldwin apologizes for his role in his daughter's future battle with bulimia. - The Washington Post Beckham pouts, Real Madrid won't let him go early to come play with us. - CNN Would there be any more lovely a... more ›

By week's end, LA is regularly littered with a handful of free rags. Combined, these publications put the Tribune Company's Spring Street operation LA Times to shame as far as reporting on the dozens of municipalities that make up this metropolis of more than 12 million people. LAist reads the weeklies so you don't have to. If there's anything we missed, let us know, or better yet drop it in the comments section below.... more ›

I've had a few thoughts in the past about buying groceries online. One was more nostalgic and comparative, when thinking about how in New York City you can shop for your groceries in the store and then have them brought to your apartment, and how it's almost ironic that there, in a city where everything is so easily accessible that you can have anything--even pancakes--delivered to your door, whereas here in Los Angeles things... more ›

When Sam Zell, the soon-to-be new owner of Tribune Corp., parent company of the LA Times, was quoted as saying this on Saturday, we called him a ridiculous old man: "If all of the newspapers in America did not allow Google to steal their content, how profitable would Google be?" Zell said during the question period after his speech. "Not very." And the consensus from the blogosphere this weekend? That he's a ridiculous old... more ›

When Tribune Corp was met with two similar offers for its media conglomerate that includes the LA Times, the Chicago-based company decided that it felt better selling to a fellow Chicagoian, real estate billionaire Sam Zell than to a group of billionaires living here in LA. Although Zell will be ponying up just $300 million of the $8.2 billion deal, he will be calling the shots. And on his radar, incredibly is Google, and... more ›

By week's end, LA is regularly littered with a handful of free rags. Combined, these publications put the Tribune Company's Spring Street operation LA Times to shame as far as reporting on the dozens of municipalities that make up this metropolis of more than 12 million people. LAist reads the weeklies so you don't have to. If there's anything we missed, let us know, or better yet drop it in the comments section below.... more ›

Geffen, Zell Reportedly Discuss LA Times Movie and music mogul David Geffen is negotiating with Sam Zell on a possible deal for the Los Angeles Times following Zell's successful bid for Tribune Co., a published report said Thursday. How much of the city is still trying to feign interest in this ongoing saga? LA gang members in country illegally may face quicker deportation City and county prosecutors say they are working more closely with... more ›

LA Times Buyer Reveals Pre-Deal Negotiating Drama The Chicago billionaire about to take over the company that owns the Los Angeles Times said in remarks published Wednesday that L.A. billionaire Eli Broad sought him out as a partner last month, then tried "to stick a knife in my back." Trial of Suspected Los Angeles Serial Killer to Begin Tuesday A former pizza delivery man accused of being one of the city's most prolific serial killers... more ›

UPDATE: The deal went down this morning according to the Tribune. It's liberation day. The LA Times reports:Billionaire real estate mogul Sam Zell has reached an agreement to buy Tribune Co. in a two-stage deal valued at $8.2 billion, or $34 a share, the company said this morning. The Tribune Company auction has been all show -- nice bids but no bite -- kind of like those "30 percent chance of rain" days when there's... more ›

By week's end, this town is regularly littered with a handful of free rags. Combined, these publications put the Tribune Company's Spring Street operation to shame as far as reporting on the dozens of municipalities that make up this metropolis of more than 12 million people. LAist reads the weeklies so you don't have to. If there's anything we missed, pretty please let us know, or better yet, drop it in the comments section... more ›

Photo by The Spinosaurus @ Flickr
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