At the bottom of the article under "Corporate Movers" is a note that the Tribune Co filed Chapter 11 this afternoon.
Tribune Co., which owns the Los Angeles Times, Chicago Tribune, and Chicago Cubs, filed for Chapter 11 bankruptcy protection Monday afternoon. The company, which has a very high debt load related to when Samuel Zell took it private, cited a "perfect storm" of declining ad revenue, tough economic and credit conditions.
What if any impact will this have on the Cubs and Free Agency?
Will Mark Cuban (or other buyers) want to go through Bankruptcy court at their current bids for the team or will they be able to lower their bids?