Tribune Bankruptcy *UPDATE

The lenders involved with the Tribune Company bankruptcy are meeting with the bankruptcy court this morning proposing their own plan to resolve this case. The lenders are opposed to dragging the bankruptcy out till May 31st, 2010 as per Tribune’s request.

Tribune Company filed for bankruptcy on December 8th, 2008, and was granted one extension this year.

If the banks plan is approved, will this mean the company will be broken up to satisfy the creditors, is everyone’s question?

There should be news from Chicago sometime soon.

*UPDATE: Tribune gets 10 more weeks for exclusive plan