Tribune's $45.6M Bonus Plan Approved Over Objections

Law360, New York (January 27, 2010, 4:06 PM EST) -- Overruling objections from unions, a bankruptcy judge reportedly has approved Tribune Co.'s proposed $45.6 million bonus payout to more than 700 managers and top executives.

Judge Kevin J. Carey of the U.S. Bankruptcy Court for the District of Delaware approved the proposal at a hearing on Wednesday, Reuters reported.

The Washington-Baltimore Newspaper Guild and the office of the U.S. Trustee had lodged amended objections in preparation for hearings after Tribune requested that the court bifurcate the management incentive plan, which is one component of a larger...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.