Tribune has hired bankruptcy advisers as the ailing newspaper company faces a potential bankruptcy filing, people briefed on the matter said.

The newspaper, which was taken private last year by billionaire investor Samuel Zell, has hired advisers including Lazard and Sidley Austin, one of its longtime law firms, these people said. Tribune has been hobbled by debt related to that sale last year, which has been compounded by the growing drought of advertising for newspapers.

It is only the latest — and biggest — sign of duress for the newspaper industry yet.

They may file this week

http://www.latimes.com/business/la-fi-tribune8-2008dec08,0,4487420.story 



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