The Tribune CEO tells CNBC's Maria Bartiromo that the Chapter 11 filing gives the company time "to really focus on what I call broader issues – issues of consolidation, taking advantage of the position we're in in various markets." No details on what exactly he means, but I wouldn't expect any new foreign bureaus in the near future. Asked whether he had any regrets about the Tribune deal, Zell told Maria:

My head only functions looking forward. I'm not very good at looking behind. So consequently I don't tend to reminisce or self-mutilate myself as a result of past decisions. I made the decision when I made it. I thought it was an appropriate investment at the time. Obviously, circumstances have proven the opposite.

Sounds like a yes.