Arrests in Baltimore for illegal guns often lead to dropped charges or little jail time

David Geffen

Tribune Co. to emerge from bankruptcy Monday

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....