Contrarian investor Sam Zell rarely bets on an easy turnaround. That's good, because his $12.7 billion buyout of Tribune Co. (TRB) could be messier than even he expected, BusinessWeek.com reports. With the ink barely dry on the deal, the loans and bonds used to finance the transaction are, on average, trading for about 75 cents on the dollar. By that measure, investors have shaved almost $4 billion off the value of the media conglomerate since Dec. 20. [Click for MORE]
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