Six former and current reporters for the LA Times filed a federal lawsuit Sept. 16 against Sam Zell, the real estate mogul and owner of the Tribune Company, stating he has damaged the reputation of the Times as well as his company.
Zell, who took over the Tribune Company last December, has been vilified by members of the Times for his handling of the Times. More than 1,000 jobs have been eliminated since he took control of the newspaper, which is the fourth largest newspaper in the USA with a 2006 circulation of 1,231,318.
Read the complaint on behalf of the reporters here.
The Tribune Company released this statement Wednesday: "The lawsuit filed yesterday is filled with frivolous and unfounded allegations…The media industry is in crisis, the advertising environment is extremely difficult and the economy is in turmoil. The overwhelming majority of our employees have taken up the challenge — they are working hard [and] leading by example…"
The company is the largest employee-owned media company in America but it is currently $12.5 billion in debt.
Read more about the lawsuit here.
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