Daily News: March 1, 2012

Tribune Paid Advisers $233 Million Since Chapter 11 Filing


Bloomberg announced that Tribune Co. has paid its bankruptcy advisors, including its lawyers, $233.3 million since it filed for Chapter 11 protection in the U.S. Bankruptcy Court in the District of Delaware in December 2008.

The company’s two main law firms, Sidley Austin and Chadbourne & Parke, collected about half of the money. The company’s main firm, Sidley received $68.9 million and Chadbourne & Parke, which represents the company’s unsecured creditors, got $42.2 million. Tribune’s financial advisor, Alvarez & Marsal received $18.1 million, the article said.

To read the Bloomberg article in its entirety, click here.