Court OKs Tribune Pay, Benefits Motions
December 10, 2008 at 1:25 PM (PT)
TRIBUNE CO. has gotten approval from the U.S. Bankruptcy Court in DELAWARE to continue with business as usual, including continuing to make payroll and health benefit payments, continuing its pre-bankruptcy cash management system, and honoring customer programs. TRIBUNE will also be allowed to maintain its existing securitization facility and will pay vendors and suppliers for post-filing goods and services.
"We are pleased that the court approved our 'first-day' motions, enabling us to continue to operate smoothly," said CFO CHANDLER BIGELOW. "We are committed to publishing our newspapers and running our television stations, websites and other businesses, serving our communities and delivering results for our customers —- just as we’ve always done."