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  America's Oldest Journal Covering the Newspaper Industry Thursday, December 25, 2008  
 

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Tribune's Chapter 11 Figures Paint Stark Picture: Here are the Creditors

By Mark Fitzgerald

Published: December 08, 2008 3:40 PM ET

CIHCAGO In the 24 pages of Tribune Co.’s voluntary petition for bankruptcy filed in Delaware court Monday, only two numbers matter:

Total assets: $7,604,195,000.00

Total debts: $12,972,541,148.00

Tribune’s bank creditors reads like a list of firms that could surely use the money they’re owed in this credit crunch.

Tribune’s biggest single creditor is JPMorgan Chase, owed $1.045 billion. Deutsche Bank is next with $737.5 million. Angelo Gordon & Co. LP is the third-biggest creditor, holding notes for $324.5 million.

Among the creditors are the industry’s biggest newsprint suppliers, including SP Newsprint ($5.15 million); Abitibi Consolidated ($4.19 million); and Bowater ($2.7 million).

One familiar name in corporate intrigue also appears among the biggest creditors. Davidson Kempner Capital Management, the hedge fund that has started a proxy war with Sun-Times Media Group -- the parent company of the Chicago Sun-Times, the rival of Tribune’s flagship Chicago Tribune -- has the publisher on the hook for $203.9 million.

Another creditor is Nielsen Media Research, a sibling company of Editor & Publisher. It’s owed $1.87 million.

The complete bankruptcy filing is posted on E&P’s business-oriented blog, Fitz & Jen blog.






Mark Fitzgerald (mfitzgerald@editorandpublisher.com) is E&P's editor-at-large.

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