TITLE

Cubs May File For Bankruptcy

AUTHOR(S)
Kellerhals, Richard
PUB. DATE
July 2009
SOURCE
Mergers & Acquisitions Report;7/20/2009, Vol. 22 Issue 29, p5
SOURCE TYPE
Periodical
DOC. TYPE
Article
ABSTRACT
The article reports on the possibility that the Chicago Cubs Major League Baseball team will file for bankruptcy protection. The team's owner, newspaper firm Tribune Co., filed for bankruptcy in December 2008, with its billionaire owner, Sam Zell, posting part of the team as collateral. It is noted that filing separately for Chapter 11 protection removes the team from the Tribune bankruptcy proceedings. Moreover, filing for bankruptcy helps advance the sale of the team to Tom Ricketts, chairman of Incapital.
ACCESSION #
44148403

 

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