Tribune exclusivity extended by four months to develop business plan

By Caroline Salls

Pittsburgh, April 23 - Tribune Co. received an extension to its exclusive periods to file a plan of reorganization and to solicit votes on the plan, according to a Thursday filing with the U.S. Bankruptcy Court for the District of Delaware.

The company's exclusive plan-filing period was extended to Aug. 4 from April 6 and the solicitation period to Oct. 5 from June 5.

According to the motion, Tribune is developing the long-term business plan that will form the basis of a plan of reorganization.

Once the business plan is complete, the company said it can begin negotiating the terms of a reorganization plan with its major creditor constituencies.

Tribune, a Chicago-based media company, filed for bankruptcy on Dec. 8. Its Chapter 11 case number is 08-13141.

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