Judge Unseals Tribune Bankruptcy Report, Again Delaying Its Exit from Chapter 11

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By: Randall Chase, AP Business Writer

The judge overseeing Tribune Co.’s bankruptcy is granting public access to an independent examiner’s report, which in the already-released summary described the leveraged buyout of the Chicago media giant as bordering on fraud..

The judge granted the examiner’s request to unseal his report, which had been sealed last week because of confidentiality concerns by some parties.

But the examiner’s lawyer says no objections to unsealing the report had been filed by the deadline, and that it should be opened to the public.

The report concludes that talks leading up to the 2007 leveraged buyout of Tribune bordered on fraud. It is among key documents the judge will consider in deciding whether to approve Tribune’s reorganization plan.

In unsealing the report, the judge also agreed to move several deadlines to give parties time to analyze the examiner’s findings.

The deadline to vote on Tribune’s reorganization plan was pushed back until Aug. 20.

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