"Tribune Co.--owner of the Los Angeles Times, Chicago Tribune, Baltimore Sun and other dailies--filed for Chapter 11 bankruptcy Monday."

Like most major newspapers the internet is killing their advertising dollars (plus Sam Zell had a huge debt when he bought into this newspaper/baseball business). But the Cubs, they are superb with generating advertising dollars. The lovable losers, if they never win a World Series (and that seems likely), will continue to be a great draw for Chicago and for WGN.

They are still pursueing Jake Peavy however, and according to the Sun Times this morning, "Though various reports said the Cubs couldn't swing a deal because of their uncertain ownership situation, a high-level source shot down that speculation." Jake has a $63 Million guarantee over the next four years with the Padres that the Cubs would have to cover and, of course, they gave Dempster about $52 Million for four years just a month ago.

So what's a few Million Dollars when you're $13 Billion in debt. "Fair market value"? I don't get it Chris, what would be considered the "fair market value" in an economy such as this?