Tribune Gets Court OK On Some Commission, Vendor Payments
January 15, 2009 at 3:36 PM (PT)
TRIBUNE CO. has received U.S. Bankruptcy Court approval on several motions the company filed with the court related to business operations and procedural matters. The court's approval clears the way for TRIBUNE to enter into a joint agreement with DOW JONES under which the CHICAGO TRIBUNE will print the WALL STREET JOURNAL and BARRON'S in the Midwest region; make some pre-petition contributions to 16 union pensions; pay vendors who delivered goods within 20 days prior to the company's DECEMBER 8th Chapter 11 filing; and pay certain commissions earned prior to DECEMBER 8th.
The court also approved several procedural motions, including final approval of the extension of a pre-existing $300 million securitization facility.