Tribune to Leave Bankruptcy After Four Years

2:09a.m. EST December 31, 2012 CHICAGO (AP) — Tribune Co. announced it is emerging after more four years of bankruptcy. Tribune said late Sunday the reorganized media company begins Monday with new ownership — the senior creditors — and a new board of directors: Bruce Karsh, Ken Liang, Peter Murphy, Ross Levinsohn, Craig A. Jacobson, Peter Liguori, and Eddy Hartenstein. "Tribune will emerge from the bankruptcy process as a multimedia company with a great mix of profitable assets, strong brands in major markets and a much-improved capital structure," said Hartenstein, Tribune's chief executive officer. Senior creditors Oaktree Capital Management, Angelo, Gordon & Co. and JPMorgan Chase & Co. will control of the new company. The Chicago Tribune reported late Sunday that Liguori, a former TV executive at Discovery and Fox, is expected to be named chief executive the reorganized Tribune Co. Tribune, which was founded in 1847, publishes some of the best-known newspapers in the U.S., including the Los Angeles Times, The Baltimore Sun and the Chicago Tribune. It also owns WGN in Chicago and 22 other television stations, as well as the WGN radio station. The Tribune's report Sunday said that the new owners expect to sell all of the company's assets. Tribune Co. sought bankruptcy protection in 2008, less than a year after billionaire developer Sam Zell led an $8 billion leveraged buyout that left the company with $13 billion in debt.

Taylor Students Publish Devotionals

Taylor U. students’ work in book of devotions Daily devotions written by Taylor University students and their professor are included in a one-year devotional book, “The Spirit Calling: Awaken to the Sound of His Voice,” which was released recently by Worthy Publishers of Nashville, Tenn. The 23 contributing authors of the book include professor Dennis E. Hensley of Taylor and 11 students from his professional writing program: Ashlee Amann, Kyle Carruthers, Sarah Cespedes, Ryan Dennison, Kacey Heinlein, Katelyn Irons, Lexie Owen, Jeremy Paul, Demelza Ramirez, Joshua Spotts and Tom Vick. None of the students are from Fort Wayne. “We were given the theme of writing devotions from the perspective of the Holy Spirit,” Hensley said in a Taylor news release. “Each of the students and I had to write 10 devotions last May.” The students have written articles, reviews and interviews that have been published in a variety of newspapers and magazines, but was the first book project for all, the news release said. The book sells for $14.99, and is available in Christian bookstores or through the Worthy Publishing website, www.worthypublishing.com.