Sunday, 29 November 2015
Last updated 1 day ago
Jul 16 2012 | 11:46am ET
At long last, a federal court has approved a bankruptcy exit plan for the Tribune Co., which hands the newspaper publisher to a group of lenders led by two hedge funds.
U.S. Bankruptcy Judge Kevin Carey in Wilmington, Del., who last year angrily rejected two bankruptcy plans, on Friday said he approve the most recent one, Tribune's fourth, pending a few revisions. In doing so, he rejected objections proffered by several creditors, including hedge fund Aurelius Capital Management.
The ruling allows Tribune, which owns 23 television stations in addition to the Chicago Tribune, Los Angeles Times and a number of other newspapers, to seek Federal Communications Commission approval for the transfer of its broadcast licenses. If that approval is gained—it could take several months—a group of creditors led by Oaktree Capital Management, Angelo Gordon & Co. and JPMorgan Chase will appoint a new seven-member Tribune board.
Oct 21 2015 | 10:41am ET
One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…