Billionaire donors Laura and John Arnold support far more in Maryland than police surveillance
Topics

Chicago Reader

Bankruptcy judge says he will approve Tribune Co. restructuring

Bankruptcy judge says he will approve Tribune Co. restructuring

After more than 31/2 years of bitter legal conflict, the judge in Tribune Co.'s bankruptcy case said he would approve a plan to transfer ownership of the Chicago media company to a group of hedge funds and banks based in Los Angeles and New York.

But in a memorandum overruling objections by junior creditors and others, U.S. Bankruptcy Judge Kevin Carey said the plan's proponents first would have to make revisions to reflect recent court rulings.

A lawyer in the case said that would require the company to edit the plan and craft a new confirmation order that would be distributed to all parties for review, a process that could extend formal approval until at least late...

88°