So what happens to the Cubs now that Tribune is filing Chap 11?

So despite all the hoo-ha surrounding Sam Zell's shakeup of Tribune Co., the parent of the Chicago Trib. and L.A. Times filed for bankruptcy today.
There's something in that report, though, that grabbed me:

Media conglomerate Tribune Co. filed for bankruptcy protection Monday, as the owner of the Chicago Tribune, the Los Angeles Times, the Chicago Cubs and other properties tries to deal with $13 billion in debt.

Um, Chicago Cubs?
I guess I knew the company was involved in baseball and they're not alone in making odd bedfellows (NYT/Red Sox), but it highlights part of what is wrong with this industry.
I and Daniel Bachhuber are setting up one of the regional NewsInnovation BarCamps in Portland for mid to late January, and we're just starting to get some ideas on the table for what we might want to talk about.
Daniel suggested that we discuss core competencies of an online news organization. I agree, but added that we take it to a broader news organization level without regard to media platform.
There are many reasons why Tribune and others are starting to topple. But I'm convinced that a big part of these spectacular failures has to do with a mission that is overly broad and spread through a conglomerate, rather than focusing on doing one thing really well: deliver information to readers and leave baseball to the pros.