Tribune Chairman Sam Zell—whose company is still in bankruptcy proceedings—went on CNBC today and explained why the bankruptcy process has been so difficult. His reasoning: “Big transaction,” “Lot of different players,” and questions about ... “how the media and particularly the newspaper side of the business are going to change in the future.”

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Zell, who was replaced as CEO in December, provided some of his own answers to the latter question, saying that “going forward, it’s going to require all kinds of different approaches, including probably most significant, the elimination of home delivery and the replacement of it by PDFs.”