Monday, September 24, 2007

Lovers of the press, liberty must root for the Cubs

Columbia Journalism Review's Dean Starkman doesn't care how they do it but the Chicago Cubs must win the Pennant and the Series.

The greater the Cubs’s success, therefore, the higher the price the club fetches in a sale, creating a virtuous cycle of financial success and American progress. The lower the newly private Tribune Co.’s debt, the higher its chance of success, the more likely it will continue to publish, the more reporters and editors it will employ, the more information will emanate from the Tribune, the more enlighted our polity, the wiser our leaders, and the greater the spread of the American way of life throughout the world.
Tribune generated cash flow of $1.3 billion last year. When the Zell Deal is complete, the company will initially have to meet annual interest costs of $1 billion. With revenues down and continuing to slide, there won't be much wiggle room.

(end of post)

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