Judge weighs Tribune employee payments
Tuesday, May 12, 2009
WILMINGTON, Del. -- A Delaware bankruptcy judge is set to hear arguments on a request by the Tribune Co. for approval to pay $13 million in bonuses to almost 700 employees for their work last year.
The judge presiding over Tuesday's hearing also will consider the company's request to make $2.6 million in severance payments to 68 employees, all but two of whom were terminated before Tribune filed for bankruptcy protection.
The U.S. trustee has in the case has objected to the proposed payments.
Tribune, which owns the Los Angeles Times, Chicago Tribune, The Sun of Baltimore, The Hartford Courant and other dailies, as well as 23 TV stations, had sought bankruptcy protection in December because of dwindling advertising revenues and a $13 billion debt.