It's been pretty big news that real estate magnate Sam Zell has won the bidding for Tribune Co., the nation's second-largest newspaper company with titles including the Chicago Tribune, the Los Angeles Times and The Baltimore Sun.

The question, of course, is what is the company's future under Zell?

Jason Calacanis, on his calacanis.com blog, has some thoughts on this -- and they're not terribly comforting if you happen to be a Tribune Co. employee. He begins with a Zell quote from a recent Washington Post story: