Tribune Co. still talking to creditors, holds off on filing revised reorganization plan

Tribune continuing talks with creditors

DOVER, Del. — The Tribune Co. is continuing to talk to creditors as it tries to win support for a reorganization plan.

Creditors withdrew their support of a plan hammered out earlier this year after an independent examiner released a report last month concluding that Tribune’s 2007 leveraged buyout may have involved fraud.

Tribune attorneys told a Delaware bankruptcy judge last week that they would file a revised plan by Friday in a final effort to win creditor support. They warned that if creditors don’t go along, Tribune may be forced to sue over the fraudulent transfer issues raised by the examiner.

But Tribune released a statement late Friday saying discussions are continuing, and that it has decided not to file a new plan now.