Tribune Touts Deal With Creditors To Leave Ch. 11

Law360, New York (April 8, 2010, 5:29 PM EDT) -- The Tribune Co. said Thursday that the bankrupt media holdings firm has reached an agreement, supported by powerful creditors JPMorgan Chase & Co., Angelo Gordon & Co. LP and Centerbridge Partners LP, to settle bankruptcy court claims related to the company's disastrous going-private transaction in 2007.

The Chicago-based Tribune said the agreement, to be filed in the U.S. Bankruptcy Court for the District of Delaware, also had the support of the official committee of unsecured creditors. A plan of reorganization had not yet been filed as...
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