Tribune Co. Files for Chapter 11 Bankruptcy

Newspaper and TV station owner The Tribune Co. confirmed reports Monday (Dec. 8) that it is voluntarily restructuring its debt under protection of Chapter 11 of the U.S. Bankruptcy Code in the U. S. Bankruptcy Court for the District of Delaware. The Chicago Cubs franchise, including Wrigley Field, is not included in the filing while Tribune’s effort to monetize the Cubs and its assets continue.