Friday, December 19, 2008

Creditors Picked in Tribune Filing

From the Chicago Tribune:

Tribune Co.'s official committee of unsecured creditors will include Wall Street banks and the Pension Benefit Guaranty Corp.

JPMorgan Chase Bank NA, Merrill Lynch Capital Corp. and Deutsche Bank National Trust also won seats on the eight-member committee of unsecured creditors, which represents the interest of all holding debt not backed by collateral.

Tribune Co., the Chicago-based owner of the Chicago Tribune, filed for bankruptcy Dec. 8, less than a year after real estate billionaire Sam Zell took it private as an employee-owned company in an $8.3 billion deal that saddled it with debt. Most of the company's $13 billion in debt isn't guaranteed by Tribune Co.'s newspapers and broadcasting stations.

> Newspaper Guild Local Named to Creditor Committee in Tribune Bankruptcy Filing
> Sun-Times Media Group: We'll Return to Profitability At A 'Fraction' Of Size Sphere: Related Content

No comments: