Tribune Pitches $420M Settlement For Bondholder Debt

Law360, New York (October 12, 2010, 3:20 PM EDT) -- Tribune bondholders that hold more than $1 billion in unsecured debt, including money manager Aurelius Capital Management LP, would receive $420 million under the terms of a plan the bankrupt media conglomerate will float by Oct. 15, the debtor said Tuesday, having enlisted more allies such as the unsecured creditors committee and JPMorgan Chase Bank NA.

Tribune's announcement appeared to mark a deal between so-called Step One lenders, such as JPMorgan, and private equity groups Oaktree Capital Management LP and Angelo Gordon & Co. LP, so-called...
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