The settlement at the heart of Tribune Co.’s proposed reorganization plan has fallen apart, casting doubt on whether the Chicago-based media conglomerate can continue to control its own fate in bankruptcy court.

At a status hearing in Delaware Friday, Tribune Co. lead attorney James Conlan of Sidley Austin said the company planned to file unilateral amendments to its plan by next Friday and threatened to cast the case into extended litigation if the warring parties can’t come to an agreement.

“The debtor has tried mightily to bring the parties together,” Conlan said. “That hasn’t happened.” Get the full story »