Sam Zell

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."


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