Posted by Time Out for a professional blog on July 17, 2012 at 00:37:36:
Just as Tribune Co. is about to emerge from its long bankruptcy nightmare, its television and radio flagships — respectively branded Chicago’s
Very Own and The Voice of Chicago — face the prospect of out-of-town owners for the first time in their long histories. A judge’s ruling Friday
paved the way for Tribune Co. to exit Chapter 11 bankruptcy protection and for private equity firm Oaktree Capital and other major creditors to
hold the licenses for its broadcast properties, including WGN-Channel 9 and WGN-AM (720). Pending FCC approval, a new entity known as Oaktree
Tribune would control the stations from outside of Chicago and presumably put them up for sale as quickly as possible.
Post a Followup