When Barnes & Noble announced it was looking for a buyer, we entertained the fanciful notion that struggling rival Borders might put in a bid. As absurd as the idea was, that buyout offer has been made. Here's why it has virtually no chance of succeeding.
Tribune Co. creditors are suing for billions of dollars in damages, alleging Tribune Chairman Sam Zell and lender JPMorgan Chase pushed the company into bankruptcy when Zell purchased it mainly with debt in 2007.
Tribune CEO Randy Michaels is expected to resign after The New York Times reported he has fostered a sexist "frat house" culture at the news company. Employees said he encouraged sexual innuendo, profanity, poker parties and other bawdy behavior, according to the story.
So much for the hope of a relatively quick and painless exit from bankruptcy for Tribune Co. A reorganization plan that would have turned over control of the Chicago-based media conglomerate to lenders has reportedly fallen apart.
How much quality content can a penny buy? I trolled Demand Media's eHow.com to answer that question. Here's my collection of the dumbest articles published by the company, which recently filed for an IPO.
Sorry, Tribune Co. employees. After everything you've been through in the past two years, you won't get to witness the one thing that might, in some small way, make up for it -- the spectacle of Sam Zell getting fired as CEO. He removed himself from the post, and he's staying on as chairman.
