Tribune may exit bankruptcy this fall: report

Source: Reuters

Mon Aug 31, 2009 12:25am EDT

(Reuters) - Bankrupt U.S. media group Tribune Co could emerge from bankruptcy in the autumn without a major overhaul of its present top management, the New York Times said, citing people briefed on the restructuring plans.

The status of Tribune's chief executive Sam Zell is however not clear, the paper said.

People close to the talks told the paper that major creditors have not made it clear whether they want Zell to leave the company or work in another capacity. Zell's plans are also unclear, the paper said.

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The publisher of the Chicago Tribune and Los Angeles Times filed for bankruptcy in December 2008 after going private in a deal led by Zell that resulted in the company having $13 billion in debt.

Read more: http://www.reuters.com/article/domesticNews/idUSTRE57U0MF20090831