Freedom's Plan To Shed $445M In Debt OK'd

Law360, New York (March 9, 2010, 2:24 PM EST) -- Media holding company Freedom Communications Holdings Inc. has won approval for a reorganization plan that promises to cut $445 million from the company's secured debt.

Judge Brendan L. Shannon of the U.S. Bankruptcy Court for the District of Delaware ruled Tuesday that the plan, which was supported by the company's unsecured creditors and secured lenders, met the requirements of the Bankruptcy Code.

The company said Tuesday that it expects to emerge from Chapter 11 by the end of the month. Upon emerging, it will get a...
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