Tribune Bonus Plan Before Court Today
November 10, 2010 at 4:24 AM (PT)
TRIBUNE CO. will be asking the U.S. Bankruptcy Court TODAY to approve a plan that would pay 640 top managers and executives a total of $16.5 to $42.9 million in bonuses. The bonuses, reduced from an earlier proposal, will be subject to the company meeting cash flow targets for 2010.
Also before the court TODAY, according to the NEW YORK POST, will be the request by unsecured creditors to have the court order the blocking of bonuses paid to five executives involved in the company's 2007 buyout.