Tribune Finally Wins Court Nod to Exit Bankruptcy
Posted: 7/16/2012 | By: Jonathan Stempel | Reuters.com
(Reuters) - Tribune Co has won court approval to emerge from bankruptcy, more than 3-1/2 years after seeking Chapter 11 protection following a leveraged buyout that saddled the publisher of the Chicago Tribune and Los Angeles Times with too much debt.
U.S. Bankruptcy Judge Kevin Carey in Wilmington, Delaware, on Friday overruled objections to the plan by a variety of creditors. He said he would confirm Tribune's fourth amended reorganization plan once some revisions were made.