Tribune Company Takes Another Step Towards Chapter 11 Exit
Looks like the Tribune Company has weathered David Carr’s story in the New York Times after all. Days after saying the story–which labeled Trib. Co’s upper management as a “frat house”–had possibly done irreversible harm to the company’s bankruptcy negotiations, the company reached a mediator-approved agreement with its major creditors.
“With the able assistance of [mediator] Judge Gross, we continue to achieve success in our mediation efforts, and are pleased to have now expanded the plan settlement to include the Official Committee of Unsecured Creditors,” Don Liebentritt, Tribune’s Chief Restructuring Officer, said in a press release.
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