Today the Tribune Co, owner of the LA Times filed for bankruptcy, a sure sign that soon we will soon all get our local news from blogs outsourced to China. Here's the press release, meant to assure employees that everything is operating as usual: "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." Meanwhile, whatever happened to the plan to sell the LA Times building? No biters? Related: The New York Times will borrow as much as $225 million against its new Renzo Piano-designed building (the NYT owns 58 percent, Forest City Ratner owns the rest).
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