LA Times Employees Sue Their New Owners

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When Sam Zell bought the Tribune Company, including the LA Times, he only invested $315 million. The $8.2 billion arrangement burdened the company with $13 billion in debt, in a so-called Employee Stock-Ownership Plan. But that ESOP also made the employee pension plan the majority owner, and that may come back to haunt Zell.




Warren Olney