Remember all the downsizing and cost-cutting the Courant did earlier this year? Fat lot of good it did. The Courant‘s parent company, Tribune, has filed for bankruptcy as it struggles under $13 billion in debt.
As of right now, nothing is going to change at the Courant. The bankruptcy proceedings shouldn’t affect the day-to-day operations of the paper.
Still, it’s not a good sign of things to come.
You can read the email owner Sam Zell sent to employees at CTNJ.