Tribune bankruptcy moves ahead

A Delaware District Court judge has agreed to allow Tribune Co. to operate normally during the bankruptcy proceedings, meaning the company can continue to pay employees and vendors. CFO Chandler Bigelow (wasn't he on "Friends"?) sent the following memo to Trib employees:

Just a short time ago, the U.S. Bankruptcy Court for the District of Delaware approved our "first day" motions regarding employee pay and benefits, and a number of other matters. The rulings enable Tribune to continue payroll and employee health benefits, and other processes and programs that are essential to continuing businesses without disruption.

In addition, under the authority of the Bankruptcy Code, the company continues to operate its businesses in the normal course, paying its vendors for post-filing goods and services, and serving its readers, viewers, listeners and advertisers. As a reminder, you can find additional information about the restructuring process on TribLink, on our website, www.tribune.com, and on our dedicated restructuring web site at http://chapter11.epiqsystems.com/tribune. You can also call our restructuring hotline at (888) 287-7568.

We’ll continue updating this information throughout the restructuring process. Attached is the press release we will issue in a few moments.

Sincerely
Chandler Bigelow