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Tribune moves to adopt new severance plan
Posted: 02.03.2009 at 11:31 AM
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WILMINGTON, DEL. (AP) -- A Delaware bankruptcy judge is expected to approve Tribune Co.'s request to implement a new severance plan for nonunion employees.
   
An attorney for Chicago-based Tribune refused to say how many layoffs the company is planning, or how much money the severance program might involve.
   
An attorney representing several retirees of Times Mirror, initially objected to the new severance program. Times Mirror was acquired by Tribune in 2000, and the attorney said his clients would suffer as a result of the program. On Tuesday, however, he said Tribune has addressed his concerns.
   
Tribune owns the Chicago Tribune, the Los Angeles Times, The (Baltimore) Sun, The Hartford Courant and other dailies, as well as 23 TV stations and the Chicago Cubs.
   
The company sought bankruptcy protection in December because of dwindling advertising revenues and a debt load of $13 billion.
 

(Copyright ©2009 by The Associated Press. All Rights Reserved.)

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