Tribune requests second extension to exclusive periods

By Jennifer Lanning Drey

Portland, Ore., July 24 - Tribune Co. requested an extension to its exclusive periods to file a plan of reorganization and to solicit votes on the plan, according to a Friday filing with the U.S. Bankruptcy Court for the District of Delaware.

Tribune wants to extend the exclusive plan-filing period to Nov. 30 from Aug. 4 and the solicitation period to March 15, 2010 from Oct. 5.

The company said it has devoted substantial time to developing a long-term business model necessary for formulation of a plan and on negotiating with major credit constituencies.

Tribune said the exclusivity extension would allow the plan-development process to proceed in an orderly manner.

A hearing is scheduled for Aug. 11.

Tribune, a Chicago-based media company, filed for bankruptcy on Dec. 8. Its Chapter 11 case number is 08-13141.

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