Newspapers selling off assets

heads up: this is a pretty old post, it may be outdated.

Tribune, meanwhile, told its employees Wednesday that it hoped to wring more value out of its "underutilized" real estate in Chicago and Los Angeles, extending an asset-selling program Tribune is pursuing to service a $13 billion debt load, much of which it took on from going private.

-Washington Times - In 'survival mode,' newspapers slashing jobs

Fantastic, the newspaper industry is in freefall. Selling assets just to cover your own costs is not a winning strategy. (I know, I played Railroad Tycoon ;) )

Looks like the Tribune Co. is especially in trouble.