Tribune Signals Creditors On Top Bid For Cubs

Law360, New York (January 22, 2009, 12:00 AM EST) -- In an apparent effort to keep its Chapter 11 case running smoothly, the Tribune Co. has reportedly disclosed to creditors it has settled on a leading bid for the Chicago Cubs baseball team, perhaps its most prized asset.

The Cubs were not included in the bankruptcy filing, but according to a report in the Chicago Tribune on Thursday, the committee of unsecured creditors in the U.S. Bankruptcy Court for the District of Delaware will review the bid.

“It's a big deal. It's going to involve a...
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