We knew this was coming for the Chicago-based Tribune Company, but now it’s official [1]:

Media conglomerate Tribune Co. has filed for bankruptcy protection, pressured by high debts. The Chicago Tribune’s parent company was working with bankruptcy advisers at investment bank Lazard and law firm Sidley Austin to weigh financial options, sources told [2] the Chicago Tribune for this morning’s paper.

Tribune Co. has been struggling under a $13 billion debt load since real estate magnate Sam Zell took the company private last December in an $8.2 billion leveraged buyout. The company faces a deadline today on $70 million of unsecured debt it took on before Zell’s deal.