Tribune financials ahead of expectations
May not file amended restructuring plan FridayTribune Co., the media company behind the LA Times, other newspapers and radio and TV stations, late Thursday disclosed some financial results that signal its businesses are doing somewhat better than expected.
Meanwhile, major doubts about the company's bankruptcy restructuring remain. The company has been expected to submit Friday a new plan to exit its Chapter 11 bankruptcy process after recently losing support from key creditors.
However, people familiar with the matter told the Wall Street Journal that "the process and relations among some creditors remain in chaos," and Tribune may not file an updated plan with a court Friday.
Tribune reported about $100 million more in operating cash flow in the first seven months of 2010 than in the same period a year earlier after previously predicting a decline for this year.