Zell on Tribune Buy: I Made a Mistake, I Was Too Optimistic
Chicago Tribune, April 15, 2009
By Sam Zell
Tribune Co. Chairman and Chief Executive Sam Zell said that his heavily leveraged 2007 acquisition of the Chicago Tribune parent was "a mistake" in that he did not anticipate the steep decline in the newspaper business. He said a near-term merger of some sort is highly unlikely.
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