Part four: Bankruptcy Inc.
Somewhere in the third year of Tribune Co.'s marathon Chapter 11 proceeding, U.S. Bankruptcy Judge Kevin Carey looked out at a Delaware courtroom packed with high-priced attorneys and conceded the...
All Stories
Producing heat but little light
Did members of Tribune Co. management fudge some key facts in their quest to close Sam Zell's 2007 buyout? That was the assessment made by bankruptcy examiner Kenneth Klee, a...
Part three: <b>Culture shock</b><i>With the takeover complete, Sam Zell and his team of outsiders brought a new approach, but their ideas never took off and their style alienated employees</i>
Tribune Tower was in crisis, and the illustrations of penguins installed in the building's ornate lobby were meant as a constant reminder. With Tribune Co. revenues sliding and managers struggling...
Part three: <b>Culture shock</b><i>With the takeover complete, Sam Zell and his team of outsiders brought a new approach, but their ideas never took off and their style alienated employees</i>
Tribune Tower was in crisis, and the illustrations of penguins installed in the building's ornate lobby were meant as a constant reminder. With Tribune Co. revenues sliding and managers struggling...
Part two: Warning signs
When Bank of America credit officer Dan Petrik and his team sat down in early 2007 to analyze Sam Zell's plan to take control of Tribune Co., their numbers showed...
In hot market, deals got riskier
By the time Chicago billionaire Sam Zell appeared on the scene in 2007 with his proposal to take Tribune Co. private, the red-hot market for corporate loans was primed and...
Part one: Zell’s big gamble
Aside from the business suit he was wearing, which he joked was rented for the occasion, Sam Zell was never more himself than when he appeared at a New York...
Aurelius, others appeal judge’s confirmation of Tribune bankruptcy plan
Junior bondholders in the Tribune Co.'s bankruptcy appealed Monday's confirmation decision in the case and asked the judge to stay consummation of a restructuring plan that would hand ownership of...
Judge confirms Tribune Co. plan to emerge from bankruptcy
The judge in Tribune Co.'s bankruptcy case officially confirmed a plan Monday to transfer ownership of the Chicago-based media company to a group of senior creditors led by Oaktree Capital...
Judge confirms Tribune Co. plan to emerge from bankruptcy
The judge in Tribune Co.'s bankruptcy case officially confirmed a plan Monday to transfer ownership of the Chicago-based media company to a group of senior creditors led by Oaktree Capital...