Tribune Co. exits Chapter 11

    U.S. media giant Tribune Co., owner of the Los Angeles Times and the Chicago Tribune, emerged from bankruptcy on Monday, ending four years of Chapter 11 reorganization.

    Chicago-based Tribune’s said on Sunday that its portfolio would include eight major daily newspapers and 23 TV stations.

    As part of the Chapter 11 exit, the company closed on a new $1.1 billion senior secured term loan and a new $300 million asset-based revolving credit facility.

    Read more in Crain’s Chicago Business.

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