New York Times
With
Sam Zell's bid losing steam, Tribune management is forced to reconsider how the company might restructure. "It's back to the drawing boards," one person tells
Katharine Q. Seelye. "It's a painful set of bad choices." Goldman Sachs media analyst
Peter Appert says: "The most likely outcome is the so-called management self-help plan."
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Calpers faults Tribune's "high level of anti-takeover defenses" (Tribune)
