The last day of 2012 is the first of a new era for Tribune Co.
After spending more than four years embroiled in a contentious Chapter 11 bankruptcy case, the reorganized Chicago-based media company will emerge Monday under new owners and a newly appointed board, freed from its massive debt and facing an uncertain future.
Senior creditors Oaktree Capital Management, Angelo, Gordon & Co. and JPMorgan Chase & Co. are set to take control of Tribune Co.’s storied portfolio of publishing and broadcasting assets, including The Baltimore Sun, officials said.
It was an almost anticlimactic end to a long and painful chapter in Tribune Co.’s 165-year history. Late Sunday,...