Bankrupt Tribune Company Hands Out $45 Million In Bonuses

For the last several months, Sam Zell and Tribune Co. have been petitioning a Delaware court to let them handle their own bankruptcy management instead of handing the company over to creditors. Zell, who bought Tribune in 2007 and then promptly ran it into the ground, has outlined a plan that will get the company that owns papers like The Los Angeles Times and The Chicago Tribune back out of bankruptcy by May.

But now we know why Zell and other top brass at Tribune don’t want to turn management over to the creditors: that way they wouldn’t be able to pay themselves millions of dollars in bonuses after two years when many of their employees went on strike because

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