Tribune Co. gets more time for Chapter 11 plan


Angry creditors have failed in an attempt to push Sam Zell aside and submit their own reorganization plan for Tribune Company. A federal bankruptcy judge ruled Tuesday (12/1) that Tribune Co. management will get until the end of February 2010 to file their reorganization plan for the media company to emerge from Chapter 11 protection. Tribune had asked for a month more than that, but the judge also indicated that the company could apply for more time if needed.