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Tribune Co. posts $4.53 bil loss in Q2


August 13, 2008 The charge comes a day after E.W. Scripps Co. took a $874 million write-down as sharp declines in advertising revenue throughout the industry reduces the value of newspaper businesses. The company was taken private in an $8.2 billion buyout led by real estate mogul Sam Zell last December. Classified advertising led the decline with a 26% drop, as real estate and employment ads contracted.

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