Barclays Cash Lifeline To Bankrupt Tribune Co. OK'd

Law360, New York (December 10, 2008, 12:00 AM EST) -- A bankruptcy judge has approved millions in loans from Barclays Bank PLC to Tribune Co., including a $50 million credit facility, as the media giant seeks to reorganize its crushing $13 billion debt burden in the face of a newspaper ad market slowdown.

On Wednesday, Judge Kevin J. Carey of the U.S. Bankruptcy Court for the District of Delaware authorized Tribune to obtain a letter of credit facility of up to $50 million and to amend an existing $300 million credit agreement with Barclays.

The judge...
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