Tribune shares hit 52-week low after tax ruling

At least the NYT doesn't have to feel they are the only ones in the media having hard times.Crain's Chicago Business reports:

Shares of newspaper publisher Tribune Co. dropped to a new low on Wednesday, a day after the company announced it lost a tax court ruling leaving it liable for $1 billion in tax costs.

Tribune shares fell more than 4% to a intraday low of $34.20 in heavy trading on the New York Stock Exchange. In late-afternoon dealing, the company's stock was down $1.52, or 4.3 percent, to $34.23. Shares hit a previous 52-week low of $34.53 in July and are down about 17 percent so far this year.