Continues to sidestep any interest in running the place once the bankruptcy case is out of the way ("Chicago is very cold," he tells CNBC). The former Disney CEO did buy some Tribune debt in the hopes that it would be converted to equity after the bankruptcy. Then again, so did a lot of people. Here's what he said about the deal to take Tribune private in 2007:
I saw a company that was mismanaged in the acquisition - highly over-leveraged like everything else at that moment, but almost obscenely overleveraged. Doomed from Day one.

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   Mark Lacter created the LA Biz Observed blog in 2006. He posted 
until the day before his death on Nov. 13, 2013.
Mark Lacter created the LA Biz Observed blog in 2006. He posted 
until the day before his death on Nov. 13, 2013.