Sunday, 21 September 2014
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.
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…
Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.