TRIBUNE EMERGES FROM BANKRUPTCY

Tribune Co. is due to emerge from Chapter 11 bankruptcy protection today (Monday) with a new board composed mostly of TV and movie executives who have had little experience running either newspapers or television stations, Tribune’s principal properties. It owns eight newspapers, including the Chicago Tribune, the Los Angeles Times, the Baltimore Sun, and the […]

WILL TRIBUNE MEDIA EMPIRE NOW BE BROKEN UP?

The once-mighty Tribune Corporation, which owns a slew of newspapers, radio and TV stations and interests in cable channels is about to exit bankruptcy protection, but with a future no brighter than it was when it entered it three years ago. The company will emerge with new owners — principally the companies that lent it […]

KODAK GETS GO-AHEAD TO END NAMING DEAL WITH HLYD. THEATER

The Eastman Kodak Company, which has been married to Hollywood virtually from the dawn of motion pictures themselves, is severing one of its final ties, by removing its name from the building that has been the site of the annual Oscar awards telecast for the last ten years. The company received permission from a New […]

KODAK’S MOMENT MAY BE OVER IN HOLLYWOOD

The Eastman Kodak Company, whose iconic brand name once appeared in the credits of virtually every motion picture released in Hollywood, appears to be slowly fading to black, the victim of the modern digital age when film is being replaced by digital recording and cameras by mobile phones. Now, the familiar announcer’s intonation “Live from […]

JUDGE GIVES DODGERS OK TO SELL TV RIGHTS

A Delaware bankruptcy judge has given the Dodgers the green light to package their television rights along with the team itself in a quick sale — a decision that has angered Fox Sports, whose rights to air Dodgers’ games on its Prime Ticket channel ends after next season. Fox, which said it will appeal the […]

JUDGE REJECTS BOTH SIDES’ PLANS TO RESTRUCTURE TRIBUNE

In a hefty, 126-page opinion in which he invoked the parable of the born enemies, a fox and a scorpion, who had to cooperate in order to cross a river, a federal bankruptcy judge on Monday rejected two proposals for reorganizing Tribune Co., the owner of newspapers such as the Chicago Tribune and the Los […]

TV COMPANY ACCUSED OF ETHICS BREACH DECLARES BANKRUPTCY

A U.K. TV production company, FBC Media, has gone “into administration” — the British equivalent of bankruptcy — following revelations that it produced programs for the BBC about Malaysia while receiving £17 million (about $26 million) from the Malaysian government to promote its image, the London Independent reported today (Friday). The newspaper said that NBC […]

ANALYST: NETFLIX WILL GO BANKRUPT IN A YEAR

Netflix’s announcement on Monday that it had aborted plans to separate its streaming and DVDs-by-mail service halted the steep slide of its shares only briefly on Monday before they slid again near the close, despite a bullish day on the Nasdaq. They dropped again today (Tuesday), closing at a 52-week low of $108.66, down nearly […]

REPORT: TRIBUNE HAS PAID ATTORNEYS $157.65 MILLION IN FEES

Hundreds of talented writers and broadcasters have been laid off by Tribune Corporation as it attempts to sort out its massive financial problems through bankruptcy reorganization. But lawyers and advisers working on the Tribune case have thus far been paid $157.65 million and are continuing to earn more than $10 million per month in fees […]

DAMNING COURT REPORT ON BERGSTEIN RESEALED — TOO LATE

In a case of what amounts to closing the barn door after the horse is gone, a federal bankruptcy judge has resealed a 374-page report by a court-appointed trustee on the business practices of film executive David Bergstein and his associate Ronald Tutor after the news media had already gotten their hands on it. Reports […]

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