Report: Tribune creditors want Zell out

August 14, 2009 (CHICAGO) Zell took over the troubled company two years ago and promised to turn it around. However, the Tribune is now reorganizing under bankruptcy laws.

The Sun-Times is reporting that creditors working on a new business plan want to push Zell aside.

Zell owes investment banks nearly $9 billion, and those banks reportedly want to take over the company and sell off some of its newspapers and broadcast stations.

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