Doubters continue to give debt-fueled buyout 'no better than 50-50'

There's little doubt shareholders will approve the merger Tuesday, but the real question is: "With credit markets badly hurting – and newspaper revenues declining – can Tribune and its lenders complete the 2-stage deal?"

The Merger Agreement specifically excludes changes in the credit or financial markets as reason for the deal not to go through. Nor can can Zell and the lenders bail because of Trib's operating weaknesses. Take a look. Reading it word for word could make your eyes glaze over but you'll find answers to some of your questions. (end of post)