Bankruptcy Examiner Gets More Time to Probe Tribune Co. 2007 Going-Private Deal

By: Randall Chase, AP Business Writer

The judge in the Tribune Co. bankruptcy case has given an independent examiner more time to probe the media company’s 2007 leveraged buyout.

The examiner has said reviewing the buyout, which was led by real estate mogul Sam Zell, has taken more time than expected.

The judge on Thursday gave the examiner two more weeks, until July 26, to submit his report, and moved the deadline for creditors to vote on Tribune’s reorganization plan to Aug. 6.

Lenders who oppose Tribune’s plan had asked for an Aug. 13 voting deadline, but Tribune and supporting creditors objected, saying the lenders were angling for time to propose an alternative plan.

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