Zell calls Tribune deal a 'mistake' in TV interview - Los Angeles Business from bizjournals:

ralawizewy.wordpress.com
"The definition if you bought somethingand it’s now worth a grea deal less, you made a And I'm more than willint to say that I made a mistake. I was too optimisticx in terms ofthe newspaper’s ability to preserve its Zell, the chairman and chief executivwe officer of Tribune, said in the interview. the parent of the and KTLA, througu a buyout led by The deal left the company with nearly $12 billion in debt. Tribune has sold off assetds and cut jobs since the close of the deal to help with the debt The company as it hasnearly $12 billiomn in debt.
"We're in a bankruptcuy proceedingright now, the goal of that bankruptcy proceediny is to maintain and preserve as much value as and that's what we're going to Zell said of Tribune's bankruptcy during the interview. He then immediately dismissed the idea of mergingb withanother company. "That's like asking someonw in another business if they want to get vaccinatec with alive virus.
The answer is I don'tf think there's a long list of people who want to buy newspapedrcompanies today, and for it's not likely to be the case untill we reach some kind of a new bottom as to what the newspaper'w role is going to be in our societh going forward," Zell said.