The Federal Communications Commission (FCC) granted regulatory approval for Tribune Co. to transfer its broadcast licenses to new owners, a Chicago Tribune article said.
The new owners, which include creditors Oaktree Capital Management, JPMorgan Chase and Angelo Gordon, will have control of the company when it emerges from bankruptcy. This approval was the next step in the company’s exit plan.
To read the Chicago Tribune article in its entirety, click here.
Previously on abfjournal.com: Bloomberg: Tribune Creditors Win Potential Halt to Bankruptcy Plan, August 24, 2012