Excerpts: Aurelius Capital Management: The hedge fund that’s keeping Tribune in bankruptcy Tribune Company, which owns the Los Angeles Times, has been in bankruptcy for…well, years. And according to recent reports, it won’t be coming out of Chapter 11 any time soon. So what’s the holdup? Basically, it’s two very large lenders versus an incredibly […]
Sam Zell
Excerpts: JPMorgan Called Tribune Debt Distressed Prior to New Loans JPMorgan Chase & Co. lowered its internal rating on Tribune Co.’s debt, labeling it distressed months before arranging new loans that funded the newspaper publisher’s 2007 buyout, e-mails made public in court show. Miriam Kulnis, a manager in JPMorgan’s distressed-debt unit, said in court testimony
Excerpt: Tribune Files for Bankruptcy “Over the last year, we have made significant progress internally on transitioning Tribune into an entrepreneurial company that pursues innovation and stronger ways of serving our customers,” Mr. Zell, who holds the titles of Tribune chairman and chief executive, said in a statement. “Unfortunately, at the same time, factors beyond