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Tribune Co. leaves bankruptcy after 4 years

By The Associated Press

This article was published December 31, 2012 at 11:02 a.m.

— Tribune Co. has emerged from a Chapter 11 restructuring more than four years after the media company sought bankruptcy protection.

The reorganized company said Monday that it is starting with a new board of directors and new ownership.

Tribune closed on a new, $1.1 billion senior secured term loan and a $300 million revolving credit line. The loan will fund payments required under the reorganization plan, and the credit line will fund ongoing operations.

Read tomorrow's Arkansas Democrat-Gazette for full details.

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