It’s official. A federal judge today confirmed a plan for Tribune Co. to emerge from Chapter 11 bankruptcy, according to the Los Angeles Times and Chicago Tribune. Deadline reported last week that Judge Kevin Carey said he would sign an order approving the plan after final wording changes were made and that has now happened, according to the reports. Tribune owns 23 television stations and and eight daily newspapers including the Chicago Tribune and LA Times. The order will allow the Federal Communications Commission to move forward on the company’s application to transfer its TV and radio broadcast licenses to the new owners – a group of senior creditors led by the Los Angeles investment fund Oaktree Capital Management.
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This article was printed from http://www.deadline.com/2012/07/bankruptcy-end-nears-for-tribune-judge-confirms-reorganization-plan-lat-chicago-tribune/