Monday, 15 September 2014
Last updated 5 hours ago
Sep 29 2010 | 8:53am ET
Thanks to a couple of hedge funds, the Tribune Co.’s newspapers and television stations are on the verge of exiting bankruptcy.
The publisher of the Chicago Tribune and hedge funds Angelo Gordon & Co. and Oaktree Capital Management were forced to alter the bankruptcy exit plans after 14 other creditors rejected their original plan on Monday. The sides did not indicate how the proposal was changed, and the Tribune Co. said only that U.S. Bankruptcy Court Judge Kevin Gross had “endorsed” the plans.
Gross, who oversaw two days of mediation between creditors, simply said that the settlement would “lead to additional constructive discussions.” The new plans still requires a creditor vote and the unsecured creditors committee plans to oppose the $5.5 billion package.
Meanwhile, Tribune’s creditors continue to battle over its 2007 buyout. Some members of the creditors committee want to sue others, namely the banks that financed the buyout.
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
The Federal Reserve keeps baby-stepping toward a “normalization” of monetary policy. But just what is normal?