The Tribune Company is ending 2012 on a bright note. It has emerged from a Chapter 11 restructuring more than four years after the media company sought bankruptcy protection.
The reorganized company is starting with a new board of directors and new ownership including senior creditors Oaktree Capital Management, Angelo, Gordon and Co., and JPMorgan Chase and Co.
The company also said Monday that it closed on a new, $1.1 billion senior secured term loan and a $300 million revolving credit line.
In a statement released late Sunday night, the company said it was "well-positioned" for success in the New Year. The Tribune's new board of directors will meet in the next couple of weeks to map out the company's future.
It sought bankruptcy protection in 2008, less than a year after billionaire developer
The Tribune Company owns eight newspapers, including the Chicago Tribune, and 23 television stations including WGN-TV. Tribune was founded in 1847.
Monday, February 25 2013 1:41 PM EST2013-02-25 18:41:37 GMT
Just as Oscar host Seth MacFarlane set his sights on a variety of targets with a mixture of hits and misses, the motion picture academy spread the gold around to a varied slate of films.
Just as Oscar host Seth MacFarlane set his sights on a variety of targets with a mixture of hits and misses, the motion picture academy spread the gold around to a varied slate of films.
Tuesday, February 5 2013 3:09 PM EST2013-02-05 20:09:54 GMT
Millions and millions of people tuned in to watch the Super Bowl, and including our friends serving overseas. Thousands of Chicago-style pizzas were sent overseas Tuesday.
Millions and millions of people tuned in to watch the Super Bowl, and including our friends serving overseas. Thousands of Chicago-style pizzas were sent overseas Tuesday.
Former Groupon exec Jayna Cooke founded Closet Angels, a new organization that sells donated designer clothing and all the proceeds benefit St. Jude Children's Research Hospital.
Former Groupon exec Jayna Cooke founded Closet Angels, a new organization that sells donated designer clothing and all the proceeds benefit St. Jude Children's Research Hospital.
Thursday, May 23 2013 2:22 PM EDT2013-05-23 18:22:23 GMT
Things are going to be very busy at Chicago's O'Hare International Airport this weekend. Many travelers will also hit the roads for Memorial Day, and they'll pay the price at the pump.
Things are going to be very busy at Chicago's O'Hare International Airport this weekend. Many travelers will also hit the roads for Memorial Day, and they'll pay the price at the pump.
FOX Business Network's Jo Ling Kent shared advice about a phishing scam traversing Twitter right now, that could be sitting in your direct message inbox. If you don't know where a link will lead you, don't click on it!
FOX Business Network's Jo Ling Kent shared advice about a phishing scam traversing Twitter right now, that could be sitting in your direct message inbox. If you don't know where a link will lead you, don't click on it!
Mommy beta blogger and home & family technology expert Natali Morris shared some quick tips to save cash on household costs this summer, like using a land line, smart appliances and cloth diapers.
Mommy beta blogger and home & family technology expert Natali Morris shared some quick tips to save cash on household costs this summer, like using a land line, smart appliances and cloth diapers.
David's Tea teamed up one of Chicago's hottest artisinal cocktail lounges, Chicago's Violet Hour, to create a new line of summer drinks! Lisa Tipton and Tyler Fry joined Good Day Chicago to explain.
David's Tea teamed up one of Chicago's hottest artisinal cocktail lounges, Chicago's Violet Hour, to create a new line of summer drinks! Lisa Tipton and Tyler Fry joined Good Day Chicago to explain.
Wednesday, May 22 2013 8:53 AM EDT2013-05-22 12:53:15 GMT
Illinois' congressional delegation has asked President Obama to add 16 Illinois counties to the list of those eligible to receive disaster aid after last month's flooding.
Illinois' congressional delegation has asked President Obama to add 16 Illinois counties to the list of those eligible to receive disaster aid after last month's flooding.
On this week's Ask the Expert, Redfin real estate agent and local housing market expert Jenna Smith answered your questions about pre-financial crisis prices, a good time to buy and what "comps" are.
On this week's Ask the Expert, Redfin real estate agent and local housing market expert Jenna Smith answered your questions about pre-financial crisis prices, a good time to buy and what "comps" are.
Yahoo is buying online blogging forum Tumblr for $1.1 billion as CEO Marissa Mayer tries to rejuvenate an Internet icon that had fallen behind the times.
After falling woefully out of fashion, Yahoo wants to be cool again while catering to the capitalistic demands of its shareholders. That goal led CEO Marissa Mayer to make a $1.1 billion bet on online blogging forum Tumblr...
A Chicago startup wants to make finding your lost items easier, with a new website and mobile app called "crowdfynd." Co-founders Jay Sebben and Pinaki Saha explained how they're helping relieve your anxiety.
A Chicago startup wants to make finding your lost items easier, with a new website and mobile app called "crowdfynd." Co-founders Jay Sebben and Pinaki Saha explained how they're helping relieve your anxiety.
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