Court-Appointed Mediator to Assist Negotiations in Tribune Chapter 11 Process

CHICAGO, Sept. 1 /PRNewswire/ -- Tribune Company today said it welcomed the appointment of a mediator who will assist negotiations with various creditor constituencies as the company's Chapter 11 process moves forward.

"We're pleased that the court has appointed a mediator—this is a clear sign that reaching consensus is a valuable part of this process," said Randy Michaels, Tribune's chief executive officer.

The U.S. Bankruptcy Court for the District of Delaware today appointed federal judge Kevin Gross as mediator. Gross is currently a U.S. Bankruptcy judge for the District of Delaware in Wilmington, DE.

"We welcome Judge Gross' participation in the process and we look forward to his wisdom and guidance as we move forward," said Michaels.

In addition, Tribune's Board of Directors has named a special committee to oversee the company's Chapter 11 process.  The committee is composed of four independent directors:  Mark Shapiro (Chairman), Jeffrey Berg, Maggie Wilderotter and Frank Wood.

TRIBUNE is one of the country's leading multimedia companies, operating businesses in publishing, interactive and broadcasting. In publishing, Tribune's leading daily newspapers include the Los Angeles Times, Chicago Tribune, The Baltimore Sun, Sun Sentinel (South Florida), Orlando Sentinel, Hartford Courant, The Morning Call and Daily Press. The company's broadcasting group operates 23 television stations, WGN America on national cable and Chicago's WGN-AM.  Popular news and information websites complement Tribune's print and broadcast properties and extend the company's nationwide audience. At Tribune we take what we do seriously and with a great deal of pride. We also value the creative spirit and nurture a corporate culture that doesn't take itself too seriously.  

SOURCE Tribune Company

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