Thursday, February 18, 2010
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
2 comments:
For now, we're opening this blog to Anonymous comments. This will continue as long as civility rules. Disagree as you may, just keep it clean and stay on topic. No profanity, and no name calling. We reserve the right to moderate such comments, though the person who made it may come back and reword their message in a more civil way.
who is randy and gerry eddy?
ReplyDeletewow really...
Danny, the two men are the movers and shakers at the Tribune Company.
ReplyDeleteRandy Michaels is the Chief Executive Officer, and Gerry Spector is
Chief Operating Officer for our company.