Inside these posts: Tribune

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Former Tribune editor Lipinski heads to Harvard

Ann Marie Lipinski, former editor of the Chicago Tribune, on Tuesday was named curator of the Nieman Foundation for Journalism at Harvard University. Get the full story »

Tribune Co.’s Meek to exit company

Chicago Tribune parent Tribune co. is moving its Tribune Digital divsion into Tribune Technology, under Executive Vice President and Chief Technology Officer Steve Gable, employees were told today.

Don Meek, who had led Tribune Digital as executive vice president since November, when it changed its name from Tribune Interactive, is leaving the company.

Advisers value Tribune Co.’s newspapers below $1B

Two Tribune Co. financial advisers provided stark evidence of the newspaper industry’s decline Friday when they testified in bankruptcy court that the company’s flagship publishing division may have dropped below an estimated $1 billion in value. Get the full story »

Creditors OK Tribune-backed reorganization plan

Tribune Co. said Friday that the long-awaited creditor vote in the media company’s 26-month-old bankruptcy case will allow both restructuring plans competing for a judge’s approval to move forward toward confirmation hearings scheduled for March 7.

The vote provided no surprises. Each of the two competing plans won support from the creditor alliance that proposed it and suffered rejection from the other side.

Tribune Co. owns the Chicago Tribune, Los Angeles Times and other media properties. Get the full story »

Tribune lenders drop competing bankruptcy plan

A group of lenders has withdrawn its plan for reorganizing newspaper owner Tribune Co, leaving two proposals for ending the company’s two-year stay in bankruptcy, according to court documents.

The group known as the Bridge Lenders agreed to withdraw its plan and support Tribune’s proposal, which is based on a settlement among lenders JPMorgan Chase & Co and hedge funds Oak Tree Capital Management and Angelo, Gordon & Co. Get the full story »

Gerry Spector exiting as COO of Tribune Co.

Tribune Co. Chief Operating Officer Gerry Spector, a long-time associate of real estate billionaire Sam Zell, is leaving the Chicago-based media company he has helped lead since Zell took it private three years ago.

Don Meek to head reorganized Tribune Digital

Tribune Co. is renaming its Tribune Interactive division Tribune Digital, in a reorganization that places Don Meek, who had been chief revenue officer for the company’s publishing and interactive operations, in charge as executive vice president.

Tribune Co. exec apologizes for ‘offensive’ memo

Days after Tribune Co.’s corporate management was characterized in a newspaper article as fostering a sexist “frat house” atmosphere, one of its top executives sent a company-wide e-mail with links to off-color satirical videos.

Among the videos was one the executive, Lee Abrams, labeled “Sluts” in which a gyrating woman appeared to pour liquor on her bare breasts.

Abrams, chief innovation officer of Tribune Co., which owns the Chicago Tribune, apologized “to everyone who was offended” in another company-wide e-mail Tuesday. Get the full story »

Tribune Co. makes progress with several creditors

Tribune Co. and several of its most important creditor groups announced a broad new settlement Tuesday that brings the company closer to resolving its nearly two-year-old bankruptcy case.

The new pact includes a group of senior lenders who had been holding out on a compromise, the company said, as well as the Official Committee of Unsecured Creditors in the case, which represents junior creditors.

Still absent from the settlement, however, are several key junior creditor groups including major bondholder Aurelius Capital Management, a litigious New York hedge fund known for disrupting large bankruptcy cases. Sources close to Aurelius have said the fund plans to file its own plan by the court imposed Oct. 15 deadline. Get the full story »

Tribune Co. asks for golden parachutes for top execs

Tribune Co. proposed paying its top 43 executives a severance package of cash and benefits if they are asked by a new board to leave the company after the Chicago-based media conglomerate emerges from bankruptcy.

The company didn’t put a price tag on the package, but said it amounts to 2.5 times salary and bonus for Chief Executive Randy Michaels, and 2.25 times salary and bonus for Chief Operating Officer Gerry Spector. Both would be entitled to 24 months of the company’s group health benefits.

Nine other top executives, including Tony Hunter, the publisher of the Chicago Tribune, and Eddy Hartenstein, publisher of the Los Angeles Times, would get 1.75 times salary and bonus plus 24 months of benefits. A list of 32 others would get 1.5 times salary and 18 months of benefits.

Tribune Co. filed the plan late Thursday as part of a supplement to its plan of reorganization.
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Tribune Co. examiner asks for extension

The independent examiner charged with investigating claims of “fraudulent conveyance” in the Tribune Co. bankruptcy case asked Wednesday for a 15-day extension for filing his report.

That would likely delay a set of confirmation hearings in the case scheduled for Aug. 16 in the U.S. Bankruptcy Court in Delaware.

“The examiner’s request…is not unexpected,” Tribune Co. said in a statement. “Although it may delay our confirmation hearing for a short period of time, we are supportive of the request in the interest of enabling the examiner to do a thorough and complete review.”
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