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Bankrupt Tribune Gets Green Light For Up To $45M In Bonuses

Law360, New York (May 4, 2012, 6:41 PM EDT) -- Bankrupt media giant Tribune Co. won a Delaware bankruptcy judge’s permission Friday to dole out up to $45 million in bonuses to its managers and top executives this year if they surpass certain financial benchmarks.

U.S. Bankruptcy Judge Kevin J. Carey granted Tribune’s April 13 motion to approve a management incentive plan that would reward 425 employees, including CEO Eddy Hartenstein. The bonuses, which won support from Tribune’s creditors and senior lenders, are contingent on the company’s operating cash flow in 2012.

Tribune’s board of directors...
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