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.
Thursday, June 13 2013 1:45 PM EDT2013-06-13 17:45:09 GMT
Even a fire hydrant is feeling the Blackhawks spirit, especially after Chicago's midnight victory over the Boston Bruins at the United Center in triple overtime.
Even a fire hydrant is feeling the Blackhawks spirit, especially after Chicago's midnight victory over the Boston Bruins at the United Center in triple overtime.
Wednesday, June 12 2013 9:55 PM EDT2013-06-13 01:55:01 GMT
Forecasters say hot weather could give way to violent storms across parts of Illinois and are warning residents to be prepared for strong winds, hail and even tornadoes.
Forecasters say hot weather could give way to violent storms across parts of Illinois and are warning residents to be prepared for strong winds, hail and even tornadoes.
Tuesday, June 18 2013 2:56 PM EDT2013-06-18 18:56:25 GMT
After collecting tens of thousands of dollars for themselves on Wednesday, members of the General Assembly plan to kick the can of public employee pension reform down the road for at least one more month.
After collecting tens of thousands of dollars for themselves on Wednesday, members of the General Assembly plan to kick the can of public employee pension reform down the road for at least one more month.
Summer is here and running season is in full swing, but you might not have everything you need. David Zimmer of Fleet Feet Sports shared tips on how to buy the best pair of running shoes for your feet.
Summer is here and running season is in full swing, but you might not have everything you need. David Zimmer of Fleet Feet Sports shared tips on how to buy the best pair of running shoes for your feet.
Monday, June 17 2013 3:09 PM EDT2013-06-17 19:09:21 GMT
On the first day of deliberation, the jury hearing former Chicago alderman Ambrosio Medrano's trial found him guilty of bribery. He could face up to five years in prison.
On the first day of deliberation, the jury hearing former Chicago alderman Ambrosio Medrano's trial found him guilty of bribery. He could face up to five years in prison.
Monday, June 17 2013 2:44 PM EDT2013-06-17 18:44:33 GMT
A spokeswoman for Gov. Pat Quinn says he has fully backed the tough pension proposal supported by the Illinois House and has "fought hard" to get it passed.
A spokeswoman for Gov. Pat Quinn says he has fully backed the tough pension proposal supported by the Illinois House and has "fought hard" to get it passed.
Amy Le started out behind the wheel at Duck-N-Roll. Now she's bringing some Asian-Latin spice to Chicago's financial district with her new restaurant Saucy Porka. Ever heard of a "baco?"
Amy Le started out behind the wheel at Duck-N-Roll. Now she's bringing some Asian-Latin spice to Chicago's financial district with her new restaurant Saucy Porka. Ever heard of a "baco?"
Monday, June 17 2013 12:48 PM EDT2013-06-17 16:48:35 GMT
Jewel-Osco was offering a $0.05 per gallon discount on fuel at Shell stations for every $50 in grocery purchases. But they have decided to cut the program.
Jewel-Osco was offering a $0.05 per gallon discount on fuel at Shell stations for every $50 in grocery purchases. But they have decided to cut the program.
Father's Day is only two days away. Do you have a present for your dad yet? David Viggiano, the gift and gadget guy, showcased some of the coolest new tech gadgets you can get – all under $100!
Father's Day is only two days away. Do you have a present for your dad yet? David Viggiano, the gift and gadget guy, showcased some of the coolest new tech gadgets you can get – all under $100!
Friday, June 14 2013 1:57 PM EDT2013-06-14 17:57:37 GMT
Democratic leaders in the Illinois Legislature said Friday that they would try again to pass a pension-reform plan backed by House Speaker Michael Madigan, rejecting Quinn's request for committee.
Democratic leaders in the Illinois Legislature said Friday that they would try again to pass a pension-reform plan backed by House Speaker Michael Madigan, rejecting Quinn's request for committee.
Friday, June 14 2013 1:47 PM EDT2013-06-14 17:47:11 GMT
Mayor Emanuel's office has some good weekend news, but there's a catch. Free Sunday parking begins this weekend in some neighborhoods, while paying hours are extended in others.
Mayor Emanuel's office has some good weekend news, but there's a catch. Free Sunday parking begins this weekend in some neighborhoods, while paying hours are extended in others.
Tuesday, June 18 2013 2:56 PM EDT2013-06-18 18:56:25 GMT
After collecting tens of thousands of dollars for themselves on Wednesday, members of the General Assembly plan to kick the can of public employee pension reform down the road for at least one more month.
After collecting tens of thousands of dollars for themselves on Wednesday, members of the General Assembly plan to kick the can of public employee pension reform down the road for at least one more month.
Tuesday, June 18 2013 2:39 PM EDT2013-06-18 18:39:42 GMT
Preliminary reports show industrial chemicals seeped into Lake Michigan on Monday afternoon, causing the closure of Porter Beach. Officials said Chicago beaches are not expected to be affected.
Preliminary reports show industrial chemicals seeped into Lake Michigan on Monday afternoon, causing the closure of Porter Beach. Officials said Chicago beaches are not expected to be affected.
Tuesday, June 18 2013 2:17 PM EDT2013-06-18 18:17:17 GMT
Police ask the Albany Park/Mayfair community to be vigilant, walk in pairs and avoid strangers, after a woman was sexually assaulted Monday night near the entrance to a CTA Blue Line station.
Police ask the Albany Park/Mayfair community to be vigilant, walk in pairs and avoid strangers, after a woman was sexually assaulted Monday night near the entrance to a CTA Blue Line station.
Tuesday, June 18 2013 1:50 PM EDT2013-06-18 17:50:40 GMT
Canine units were employed Tuesday, in the search for missing University of Chicago student Austin Hudson-Lapore, 20. He was last seen after taking his final exams last Wednesday.
Canine units were employed Tuesday, in the search for missing University of Chicago student Austin Hudson-Lapore, 20. He was last seen after taking his final exams last Wednesday.
Tuesday, June 18 2013 1:46 PM EDT2013-06-18 17:46:15 GMT
The last several days in Chicago have been especially violent bringing the issue to a "tipping point." More than 50 people have been shot since Friday. But what can be done to stem the violence?
The last several days in Chicago have been especially violent bringing the issue to a "tipping point." More than 50 people have been shot since Friday. But what can be done to stem the violence?
Tuesday, June 18 2013 11:19 AM EDT2013-06-18 15:19:16 GMT
If you are looking for a cookie form of summers refreshing watermelon, then the wait is over.
By: Zoe Sobel, FOX32 News Intern(Chicago) If you are looking for a cookie form of summers refreshing watermelon, then the wait is over. Meet the watermelon Oreo which is the newest member of their limited-edition
