Law360, New York (October 13, 2009, 6:21 PM ET) -- A federal bankruptcy judge has approved the $845 million sale of the Chicago Cubs baseball team from bankrupt Tribune Co. to Ricketts Acquisition LLC just one day after the team filed for Chapter 11 bankruptcy in a move to protect itself from Tribune creditors.
Judge Kevin J. Carey of the U.S. Bankruptcy Court for the District of Delaware issued the ruling after a hearing Tuesday. Carey had previously authorized the sale, aimed to refocus Tribune's portfolio on its core publishing and broadcasting businesses, during Tribune's bankruptcy...
Tribune's Cubs Sale OK'd In 2nd Bankruptcy Case
To view the full article, take a free trial now.
