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And Down The Stretch They Come; Minneapolis & Chicago Neck and Neck As To Which Will Lose Daily First
As exciting as any horse race you’d ever see at Churchill Downs or Saratoga, the Minneapolis Star Tribune and Tribune Co. are neck and neck in the much-hyped D.I.D. (Daily Insolvency Derby). The old-time Norris Division/’Black & Blue’ NFC Central rivals Chicago and Minneapolis have rounded the 4th turn and are heading down the stretch with only 23 days left to see which metro market will lose its daily newspaper first. Just last Friday, rumors circulated around the Twin Cities that Credit Suisse was preparing yank ownership of the Star Tribune away from Avista Capital Partners in what would amount to a controlled bankruptcy. While some thought that race might be over, reports have come out today that Tribune has hired Lazrd to oversee a bankruptcy proceeding that might begin as soon as this week. It’s anyone’s race at this point and we’re undoubtedly in for a photo finish.