Solvency opinion was never revealed to publicThe chief financial officer for the Tribune Co. said Friday that the media company is working on a business plan that will help it emerge from bankruptcy.
"We are facing very difficult cyclical and sector pressures in our key businesses," Chandler Bigelow III said at a hearing where he fielded questions from an attorney for the bankruptcy trustee and a handful of creditors.
Bigelow and Tribune attorneys were tightlipped when asked why a second of two solvency opinions issued in connection with a 2007 leveraged buyout was hidden from the public. [Click for MORE]
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