Tribune Co’s Bankruptcy enters Confirmation Stage


The highly publicized case of Tribune Co’s bankruptcy case is finally set to be presented before a judge for its confirmation hearing. A confirmation is where the bankruptcy judge signs off a plan for reorganization that was agreed upon by the bankrupt company and its creditors. normally, there is only one plan but in the case of Tribune Co, the company that owns the Chicago Tribune, the Los Angeles Times and dozens of TV stations, there are two competing plans.

Over the next two weeks, US Bankruptcy Court Judge Kevin Carey will begin hearing arguments from lawyers of the two sides each presenting their view of why their plan is the best in the interest of the Tribune and its creditors.

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