*Tribune Co. bankruptcy decision about to be announced

Sounds like the long-awaited ruling is due out within the hour. In case you lost track, a bankruptcy judge must decide between two competing reorganization plans. The ruling would clear the way for Tribune Co., parent of the LAT, to come out of bankruptcy after nearly three years. LAT executives apparently have been holding meetings this morning on what comes next. There are all kinds of possibilities. One area of speculation is the future of Tribune CEO and Times Publisher Eddy Hartenstein.

*More delays. From Bloomberg:

U.S. Bankruptcy Judge Kevin J. Carey in Wilmington, Delaware, told Tribune's chief restructuring officer, Donald J. Liebentritt, at a hearing that the opinion the company and its creditors have waited months to see should be available today. "I am hopeful something will be on the docket before you get to Washington," Carey told Liebentritt, who said he would be taking a 4:30 p.m. train to the U.S. capital from Wilmington today. Carey didn't say how he would rule.