Tribune Asks Court For OK To Pay Bonuses
April 27, 2009 at 5:42 AM (PT)
TRIBUNE CO. is awaiting court approval to pay $2.7 million in severance payments and $13 million in bonuses to about 700 managers in the company. TRIBUNE asked the BANKRUPTCY COURT in DELAWARE for permission to pay the bonuses on WEDNESDAY (4/22), with the proviso that the 10 most senior executives in the company will not get any bonuses.
The company said that the average bonus would be about $18,000 and the medium bonus would be about $9,500. The request came hours after the company's CHICAGO TRIBUNE laid off 53 newsroom employees.
TRIBUNE owns Talk WGN-A/CHICAGO.