Tribune leaves bankruptcy after 4 years

December 31, 2012

(AP)—Tribune Company says it has emerged from a Chapter 11 restructuring more than four years after the media company sought bankruptcy protection.

The reorganized company is starting with a new board of directors and new ownership including senior creditors Oaktree Capital Management, Angelo, Gordon and Co., and JPMorgan Chase and Co.

The company also said Monday that it closed on a new, $1.1 billion senior secured term loan and a $300 million revolving credit line.

Tribune was founded in 1847. It publishes the and the and also owns WGN in Chicago and 22 other television stations.

It sought in 2008, less than a year after billionaire developer Sam Zell led an $8 billion leveraged buyout that left the company with $13 billion in debt.

Explore further: Tribune Co. in deal with creditors to emerge from bankruptcy

0 shares

Related Stories

FairPoint phone company files for bankruptcy

October 26, 2009

(AP) -- Telecommunications services provider FairPoint Communications filed for Chapter 11 bankruptcy protection Monday after agreeing on a deal with key lenders that will help lower its debt by about 62 percent.

Chicago Sun-Times owner files for bankruptcy

March 31, 2009

The Sun-Times Media Group Inc., owner of the Chicago Sun-Times and other newspapers, filed for bankruptcy protection on Tuesday, the latest victim of the crisis gripping the US newspaper industry.

Director Cameron's company files for bankruptcy

September 11, 2012

(AP)—The digital production company founded by "Titanic" director James Cameron has filed for bankruptcy protection in the U.S. and Canada and reached a deal to sell its operating business to a private investment firm for ...

Recommended for you

What can snakes teach us about engineering friction?

May 21, 2018

If you want to know how to make a sneaker with better traction, just ask a snake. That's the theory driving the research of Hisham Abdel-Aal, Ph.D., an associate teaching professor from Drexel University's College of Engineering ...

Flexible, highly efficient multimodal energy harvesting

May 21, 2018

A 10-fold increase in the ability to harvest mechanical and thermal energy over standard piezoelectric composites may be possible using a piezoelectric ceramic foam supported by a flexible polymer support, according to Penn ...

Self-assembling 3-D battery would charge in seconds

May 17, 2018

The world is a big place, but it's gotten smaller with the advent of technologies that put people from across the globe in the palm of one's hand. And as the world has shrunk, it has also demanded that things happen ever ...

0 comments

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.