A two-week hearing began Monday to determine the fate of Tribune Co. more than two years after an ill-advised $8.2 billion buyout drove one of the oldest U.S. media companies into bankruptcy protection.
The proceedings follow four years of tumult and intrigue at Tribune Co. The company has been through the disgrace of a bankruptcy case that has lasted far longer than planned, a CEO departure triggered by complaints about management’s raunchiness and the whiff of a financial scandal fanned by a court-appointed examiner’s conclusion that parts of the 2007 buyout had bordered on fraud.
