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Tribune Plans To Drop ESOP, Add Profit-Sharing
November 4, 2009 at 12:03 PM (PT)
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TRIBUNE CO. is changing its Employee Stock Ownership Plan into a profit-sharing plan, replacing the conntroversial ESOP that was formed in DECEMBER 2007 as part of SAM ZELL's takeover of the now-bankrupt media giant.
The ESOP will be discontinued upon the company's expected emergence from bankruptcy early next year.
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