Tribune reaches tentative settlement to exit bankruptcy

Chicago's Tribune Company has a deal with several key creditors to reorganize and get closer to an exit from chapter 11, the company says. "Tribune Co. and several of its most important creditor groups announced a broad new settlement Tuesday that brings the company closer to resolving its nearly 2-year-old bankruptcy case," is how the L.A. Times put it. The Wrap says: "Endorsed by the Chapter 11 mediation judge, the wide ranging deal with the Committee of Unsecured Creditors, OakTree Capital Management and Angelo, Gordon & Company is significant at this stage in the proceedings because it sees longtime hold-out JPMorgan Chase back at the table and seemingly on board."


More by Kevin Roderick:
Ralph Lawler of the Clippers and the age of Aquarius
Riding the Expo Line to USC 'just magical'
Last bastion of free parking? Loyola Marymount to charge students
Matt Kemp, Dodgers and Kings start big weekend the right way
LA Times writers revisit their '92 riots observations
Recent Sam Zell stories on LA Observed:
Finally, some good Sam Zell news
Zell throws a hundred grand Karl Rove's way
Times employees' suit over Zell deal officially wrapped
Tribune has paid $231 million in bankruptcy fees so far
O'Shea, Zell and the 'dismantling' of the Times

New at LA Observed
Follow us on Twitter

On the Media Page
Go to Media
On the Politics Page
Go to Politics

LA Biz Observed
Arts and culture

Sign up for daily email from LA Observed

Enter your email address:

Delivered by FeedBurner


Advertisement
LA Observed on Twitter and Facebook