Business News
Court-Appointed Mediator to Assist Negotiations in Tribune Chapter 11 Process
Thursday 02. September 2010 - Tribune Board Names Special Committee
Tribune Company today said it welcomed the appointment of a mediator who will assist negotiations with various creditor constituencies as the companys Chapter 11 process moves forward.
“Were pleased that the court has appointed a mediatorthis is a clear sign that reaching consensus is a valuable part of this process,” said Randy Michaels, Tribunes 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, Tribunes Board of Directors has named a special committee to oversee the companys Chapter 11 process. The committee is composed of four independent directors: Mark Shapiro (Chairman), Jeffrey Berg, Maggie Wilderotter and Frank Wood.