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Friday, January 16, 2009

Tribune Press Release


Tribune Granted Approval of Motions on Business Operations and Procedural Matters

Printing Contract with Dow Jones & Co. Given Go-Ahead

CHICAGO, January 15, 2009 -- Tribune Company announced today that the United States Bankruptcy Court for the District of Delaware has approved several motions related to business operations and procedural matters.

  • In addition to other favorable rulings related to business operations, the company is now able to:
  • Enter into a joint agreement with Dow Jones & Co. under which the Chicago Tribune Company will print the daily and weekend editions of The Wall Street Journal and Barron’s in the Midwest region,
  • Make certain pre-petition contributions to 16 union pensions,
  • Pay vendors who delivered goods within 20 days prior to the company’s Dec. 8, 2008, Chapter 11 filing,
  • Pay certain commissions earned prior to Dec. 8, 2008.

The court also approved several procedural motions, including final approval of the extension of a pre-existing $300 million securitization facility.

A complete list of the rulings today will be posted at http://chapter11.epiqsystems.com/tribune.

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