July 1, 2013 |
Tribune Co. has agreed to purchase 19 television stations owned by Local TV Holdings in a $2.73-billion deal that is expected to make Tribune the largest television station group in the country. Tribune and Local TV Holdings said early Monday that they had entered into a definitive agreement for Tribune to acquire all of Local TV's television stations in a cash transaction. Local TV's stations are located in 16 markets, including Denver, Salt Lake City, Cleveland and Kansas City.
July 14, 2012 |
After more than 31/2 years of bitter legal conflict, the judge in Tribune Co.'s bankruptcy case said he would approve a plan to transfer ownership of the Chicago media company to a group of hedge funds and banks based in Los Angeles and New York. But in a memorandum overruling objections by junior creditors and others, U.S. Bankruptcy Judge Kevin Carey said the plan's proponents first would have to make revisions to reflect recent court rulings. A lawyer in the case said that would require the company to edit the plan and craft a new confirmation order that would be distributed to all parties for review, a process that could extend formal approval until at least late next week.
May 31, 2012 |
Independent studio Relativity Media has received a much-needed infusion of cash thanks to its new billionaire patron, Ron Burkle. The supermarket magnate, who acquired a large minority share in the movie company behind"Immortals"and"Mirror Mirror"in January, anchored a new $350-million debt-financing round that Relativity has finalized. The money will allow Relativity and its chief executive, Ryan Kavanaugh, to get back into producing movies and start building out the company's 2013 slate.
August 12, 2011 |
With Congress and the White House stalemated over the question of debt, it may be reassuring, even instructive, to consider that our nation was embroiled in a crisis over public debt at the very dawn of its history. In fact, the primary motive that brought delegates to the Constitutional Convention of 1787 was to sort out vexing questions of debt and taxes. The debt in question was that owed by the American rebels to the governments of France and Holland, two key allies that had provided funds to support Washington's army.
July 28, 2010 |
A group of money managers within TCW Group Inc. said Tuesday that they reached a deal with the Los Angeles company to split off their $11.5-billion operation. The agreement, which had been expected, will reestablish Crescent Capital Group as a stand-alone investment firm that provides debt financing to public and private companies. Crescent was co-founded in 1991 by Mark Attanasio and two other former executives of junk bond giant Drexel Burnham Lambert, which filed for bankruptcy protection in 1990.
April 29, 2010 |
Buyouts are back. A panel of private equity fund managers at the Milken Institute Global Conference in Beverly Hills this week celebrated the comeback of highly leveraged corporate takeovers, which had ground almost to a halt during the financial crisis. "What a difference a year makes," said Leon Black, head of Apollo Management in New York. Black and the other buyout honchos attributed the return of debt-financed acquisitions to the recovery in the credit markets and the overall economy.