Memo from Tribune execs re reorg plan deadline

From: Tribune Communications
Sent: Thursday, February 18, 2010 12:01 PM
Subject: Message from Randy and Gerry/Court Hearing Today

Today the U.S. Bankruptcy Court for the District of Delaware agreed to give us until March 31 to submit our plan of reorganization to the Court. Although we are close to filing a plan, we think that additional discussion with our creditors will be beneficial. We're still hopeful of reaching a settlement that is acceptable to all our creditors and we believe we are making progress.

The Court will hear arguments on motions related to Tribune's 2007 going-private transaction and a request to appoint a special examiner on April 13.

There will be some media coverage of today's court hearing, and during the next several weeks you can expect to see continued public posturing as negotiations continue. This is not unusual. As you have throughout this process, please stay focused on your job-continuing to serve our users, readers, viewers, listeners and advertisers.

We'll continue to keep you updated in the days ahead.

Randy and Gerry

SOURCE: Romenesko