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Why The Business Is Mondo Fugado

E

Element9

This is about the Chicago Tribune but it relates to the financial condition of most radio companies. Sam Zell's investment in the Tribune Company hit turbulence, so he sold the Cubs and what once was a great newspaper is on the skids. Zell represents the kind of the people who screwed the pooch and put the communications companies in the position it's in today. That would be mostly bent over. Zell bought the Tribune Company with less than 3% down and now he's in line as a creditor. That's chutzpah. Note that Rupert Murdock, who owns the Post, is no saint and there's reportedly no love lost between these two corporate media megalomaniacs.
 
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