TribLIVE

| Business


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

Tribune exits bankruptcy

Email Newsletters

Click here to sign up for one of our email newsletters.

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.

Daily Photo Galleries

Business Photo Galleries

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.

Subscribe today! Click here for our subscription offers.

 

 


Show commenting policy

Most-Read Business Headlines

  1. Study suggests health law attracting young to balance insurers’ risks
  2. UPMC offering buyouts to 3,500 employees in cost-cutting move
  3. Exxon, Chevron shareholders reject big oil restrictions
  4. Billionaires club to decline as they retire
  5. Shareholder vote causes ATI to review executive pay packages
  6. How to cover work history gaps
  7. Developer hopes to make Allegheny Center a tech hub
  8. Cuba’s dairy industry, once touted as a success, is struggling
  9. Home sales slipped in April on tight supply, high prices
  10. Murray, Alpha notify West Virginia coal miners of layoffs
  11. Citizens Bank executive kept busy by spinoff