TribLIVE

| Business


 
Larger text Larger text Smaller text Smaller text | Order Photo Reprints

Tribune exits bankruptcy

On the Grid

From the shale fields to the cooling towers, Trib Total Media covers the energy industry in Western Pennsylvania and beyond. For the latest news and views on gas, coal, electricity and more, check out On the Grid today.

By Edmund Lee and Alex Sherman C.2012 Bloomberg News
Monday, Dec. 31, 2012, 10:28 p.m.
 

Tribune Co., owner of the Chicago Tribune, Los Angeles Times and six other daily papers, emerged from bankruptcy, four years after a doomed leveraged buyout by billionaire Sam Zell led to Chapter 11 proceedings.

Distributions to creditors have been initiated, the Chicago-based company said Monday. As part of its exit from bankruptcy, Tribune Co. closed on a new $1.1 billion term loan and a $300 million revolving credit line.

The company is now in a wide-ranging sale of assets including stakes in the Food Network and CareerBuilder Inc., newspapers including the Times and the Tribune as well as real estate, said Lance Vitanza, managing director at CRT Capital Group LLC.

 

 
 


Show commenting policy

Most-Read Business Headlines

  1. Calgon Carbon poised for explosive growth
  2. Amid struggles, top fiscal executive to leave EDMC
  3. Chevron puts $20M into educating, training Appalachian workers
  4. Natrona Bottling Co. keeps soda pop operation focused on craft, taste
  5. Allegheny Technologies reports $700,000 loss in 3Q
  6. CMU spinoff’s CEO gets council honors
  7. Open enrollment puts varied impact of health care law back in focus
  8. Russian steel to lose duty shelter
  9. Market sell-off offers opening
  10. High pollution levels found near Ohio gas wells
  11. Streaming won’t mean the end of cable
Subscribe today! Click here for our subscription offers.