Tribune Co.’s attempts to exit bankruptcy court will be delayed at least until October, but could extend even beyond that as the company and its creditors dive into a new round of negotiations aimed at finally settling the 20-month-old Chapter 11 case.
The delay is an acknowledgment that an examiner’s report about the propriety of the company’s 2007 leveraged buyout has upset a previous settlement in the case and forced the company to redouble efforts to win the approval from a range of dissident creditors. Get the full story »
