Tribune Co. Emerges From Bankruptcy

Tribune Co., owner of the Los Angeles Times and seven other daily papers, emerged from bankruptcy today, four years after a doomed leveraged buyout by billionaire Sam Zell led to Chapter 11 proceedings, the Times and Bloomberg News report. The Chicago Tribune says the new board will include Bruce Karsh, president of L.A.’s Oaktree Capital Management, and Kenneth Liang, an Oaktree managing director.