Tribune meets with creditors

They're the creditors who had opposed the company's reorganization plan, Bloomberg reports. They met with Tribune lawyers for about an hour at U.S. Bankruptcy Court in Wilmington, Delaware, but nobody is talking. Tomorrow, Tribune is supposed to release a new version of its reorganization. The previous proposal got nixed when support was lost from JPMorgan Chase.

Meanwhile Tribune released some limited financial information showing that operational cash flow during the first seven months of 2010 was up 44 percent compared with the previous year (not a tough number to beat). The company also says it has $1.6 billion in cash on hand. But there's nothing about revenues or whether the company is operating at a loss or profit. CEO Randy Michaels and COO Gerry Spector did send out an upbeat memo to employees.

"There's been a lot of media speculation lately regarding our Chapter 11 process--and the temptation is to let it distract us from the things that matter most: focusing on our business and serving our customers and communities," they wrote. "Try not to pay attention to the outside noise."