Letter from the publisher Eddy Hartenstein

Dear Reader,

As you may already know, our parent company, Tribune and its individual media properties, which includes the Los Angeles Times, have filed to restructure their debt obligations under the protection of Chapter 11 of the U.S. Bankruptcy Code.

What does all this mean for our readers and advertisers? As a practical matter, very little. Tribune is continuing to operate its media businesses, including its newspapers, television stations and websites. And, at the Los Angeles Times and latimes.com, we remain dedicated to providing you with the level of service and news coverage you've come to expect from us every day.

The decision to restructure our debt was predicated by the dramatic and unexpected operating conditions we've encountered this year. We have experienced the perfect storm –– a precipitous decline in revenue and a tough economy has coupled with a credit crisis making it extremely difficult to support our debt. All of our major advertising categories have been dramatically impacted.

This restructuring is in Tribune's best long-term interest. It will reduce pressure on our operating businesses, enabling us to pursue our vision of creating a sustainable, cutting-edge media company that is valued by our readers, viewers, and advertisers, and that plays a vital role in the communities we serve. That, in turn, will help keep this website showing up on your computer every day, offering you news, information and entertainment you can't get anywhere else. It's what you expect and what we'll continue to deliver.

We remain committed to being your No. 1 source of news and information in Southern California.

Eddy H. Hartenstein
Publisher and Chief Executive Officer
Los Angeles Times

SOURCE: Los Angeles Times