Tribune: Slow train coming

July 28, 2009

Bankrupt publisher and TV broadcaster Tribune Co filed for bankruptcy last December, and it’s looking increasingly like next December might be the first time we see what the new company will look like. Here is what the company’s Chicago Tribune newspaper reported Tuesday morning:

The parent company of the Chicago Tribune is scheduled to deliver a plan Aug. 4 but wants to extend that deadline to Nov. 30.

Citing the complex nature of the case, Tribune said in a filing it needs more time to build consensus around a plan. It also said the outcome of the pending sale of the Chicago Cubs could have a “material impact” on the plan.

A spokesman called the request “routine.”

This would be the second time that Tribune gets an extension, if the bankruptcy court judge approves it. Our question for you: Will it be the last? We’re talking about $13 billion in debt, not exactly a foreclosed house. What do you think?

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