Tribune may file for Bankruptcy (UPDATE: They filed!)

[Jtaylor1]

Tribune may file for bankruptcy (http://www.latimes.com/news/la-fi-tribune8-2008dec08,0,854112.story)

[phrelin]

Similar article in the NY Times (http://www.nytimes.com/2008/12/08/business/media/08tribune.html?ref=media).

What's not mentioned and what makes this of some concern to us here at DBSTalk is the our program guides come from a Tribune Company operation. But otherwise, this is a pretty big deal: The Tribune Company owns 23 TV stations and 12 newspapers, including two of the eight largest in the country by circulation. As of Sept. 30, The Los Angeles Times had weekday circulation of 739,000 and the Chicago Tribune had 542,000.

Tribune has been trying to sell the Chicago Cubs baseball team; the team’s stadium, Wrigley Field; and the company’s share in a regional cable sports network. Such a deal, which could bring the company more than $1 billion, has been a crucial part of its strategy since last year.

[rhambling]

straight off their about us page

TMS Entertainment Products is part of Tribune Media Services (TMS) www.tms.tribune.com, a worldwide media company that drives consumers’ entertainment choices. TMS is an innovative entrepreneurial business unit of Tribune Company and an integral and continuously evolving part of the media landscape. We have relationships with more than 4,000 customers, including AOL, DirecTV, Disney, The Washington Post, TimeWarner and TiVo.

[Stuart Sweet]

I heard about this on the radio this morning... on a CBS-owned station no less. It's pretty big news in Southern California when the owner of the LA Times and the west's oldest TV station (KTLA) is in trouble.

[rhambling]

now the guide data will be really messed up:nono:

[smiddy]

Does anyone know if DirecTV has a backup plan?

[Stuart Sweet]

Bankruptcy does not mean that they stop doing business. Exactly the opposite. I suspect that TMS is one of the few profitable arms of the Tribune empire, and I doubt there will be any changes.

[inkahauts]

I would expect many pieces of Tribune to be broken off and sold to others during their reorganization... This will not be a going out of buisness bankruptcy.. more like a reorganizing one, and shedding of the fat one... Like say, TMS to TV Guide (gemstar I believe...)

Not sure about the LA Times, but I could also see KTLA being picked up by another network, like NBC or more likely ABC, seeing how Fox and CBS here in LA already own second stations..

[Steve]

Does anyone know if DirecTV has a backup plan?Excellent question. Most publicly-held companies are required by their boards to have disaster recovery plans in place, so hopefully this won't be an issue.

That said, since there are several major clients that depend on TMS for program data, it wouldn't surprise me if DirecTV, Dish and some of the major cableco's didn't join forces to acquire TMS and let it run independently, much like the newspapers support the Associated Press (AP). Perhaps TMS can be renamed Associated Media Services.

/steve

[Stuart Sweet]

I would expect many pieces of Tribune to be broken off and sold to others during their reorganization... This will not be a going out of buisness bankruptcy.. more like a reorganizing one, and shedding of the fat one... Like say, TMS to TV Guide (gemstar I believe...)

Not sure about the LA Times, but I could also see KTLA being picked up by another network, like NBC or more likely ABC, seeing how Fox and CBS here in LA already own second stations..

NBC Universal also owns the Telemundo stations here so I don't see them buying KTLA. As CBS is already engaged as you say (and is half owner of KTLA's affiliated network the CW), perhaps Time Warner will want back in.

More to the point I think that KTLA will continue to prosper as will Tribune Media Services. The LA Times... that's a tough call.

[dhines]

The LA Times... that's a tough call.

i will be happy to see them go . ..

[Stuart Sweet]

On the other hand I think it would be a shame to see this paper disappear. They have a long history. It would be a real pity if the most valuable asset of the LA Times is its downtown real estate.

[Richard King]

It's done:
http://www.breitbart.com/article.php?id=D94UNNQG3&show_article=1
Tribune files for bankruptcy protection
Media conglomerate Tribune Co. filed for bankruptcy protection Monday, as the owner of the Chicago Tribune, the Los Angeles Times, the Chicago Cubs and other properties tries to deal with $13 billion in debt.
Advertising revenue declined severely this year because of the recession, putting pressure on the Chicago-based company. Most of its debt comes from the complex transaction in which the company was taken private, with employee ownership, by real estate mogul Sam Zell last year.More...

[smiddy]

Excellent question. Most publicly-held companies are required by their boards to have disaster recovery plans in place, so hopefully this won't be an issue.

That said, since there are several major clients that depend on TMS for program data, it wouldn't surprise me if DirecTV, Dish and some of the major cableco's didn't join forces to acquire TMS and let it run independently, much like the newspapers support the Associated Press (AP). Perhaps TMS can be renamed Associated Media Services.

/steve

I like this idea! :)

[phrelin]

On the other hand I think it would be a shame to see this paper disappear. They have a long history. It would be a real pity if the most valuable asset of the LA Times is its downtown real estate. Historically there has been no comparable source of Southern California and general California news. The Sacramento Bee, the McClatchy original paper, covers state government well, but whatever its current flaws the LA Times was for over a decade the California's best source of in-depth news.

The Seattle Times is the only independent major newspaper remaining on the Left Coast and doesn't cover California. The Hearst owned San Francisco Chronicle doesn't even effectively cover the Bay Area IMHO.

[Doug Brott]

Someone will pick up the GUIDE data piece either in whole or part. No way all of the services that rely on this (DIRECTV, Cable, etc.) let it go away. Perhaps it will be TV Guide or perhaps the big boys get in bed together and create a new holding company that buys up the TMS portion.

[Stuart Sweet]

I wouldn't be surprised if DecisionMark emerged as a potential buyer: www.titantv.com

[506PIR]

i will be happy to see them go . ..

Im with you on that brother. I shall not shed a single tear :D

[xIsamuTM]

i would assume go with someone else... or stop using guide data altogether, and have us record everything in 1/2 hr blocks

[phrelin]

I wouldn't be surprised if DecisionMark emerged as a potential buyer: www.titantv.comThat would be my choice as it's the company that provides guide data on all the critical San Francisco stations' web sites. It's always right for my local network affiliates. In addition, it would be a good match. From there corporate online media kit: Decisionmark is the leading online software and information provider to the broadcast industry. For consumers, Decisionmark offers the only real-time household-level online programming guide, TitanTV.com. Because of its close relationship with TV broadcasters, the TitanTV EPG has the most accurate program schedules and signal reception information on the U.S. market. Decisionmark is a profitable, privately held company, based in Cedar Rapids, Iowa. Decisionmark was recognized as one of the Inc 500’s fastest growing private companies in 2003.

[Stuart Sweet]

From Tribune's press release:

The company will continue to operate its media businesses during the restructuring, including publishing its newspapers and running its television stations and interactive properties without interruption, and has sufficient cash to do so.

http://www.tribune.com/pressroom/releases/2008/12082008.htm

[Draconis]

I wouldn't be surprised if DecisionMark emerged as a potential buyer: www.titantv.com

I never knew about these guys, thanks for the link.

[smiddy]

Awesome, it appears there is minimal risks here and potential for a lot of opportunity too. Interesting!

[codespy]

I'm starting to have guide data problems on my HR20......anyone else? Anyone know the cause of this? :D

[smiddy]

I'm starting to have guide data problems on my HR20......anyone else? Anyone know the cause of this? :D

Uhm, bankruptcy? :lol: I would say we should not feel any pain based on the reports above.