Tribune Co. | featured news

U.S. prosecutors obtained an indictment on Thursday accusing Matthew Keys, deputy social media editor at reuters.com, of aiding the group Anonymous to hack into a Tribune Co website.

Tribune Co. owners are again casting around for candidates to lead the troubled media outfit, which has been in Chapter 11 for more than three years. Former NBCUniversal boss Jeff Zucker is a leading candidate to run the debt-plagued newspaper and TV station company, sources said.

A group of investors in bankrupt Tribune Co sued JPMorgan, Merrill Lynch, Citicorp and Bank of America, claiming the banks arranged $3.7 billion in loans in 2007 they knew the company could never repay.

Tribune Co. CEO Randy Michaels resigned Friday amid tales of raunchy behavior as one of America's biggest media companies looked to shift attention back to its efforts to emerge from bankruptcy protection. Hours later, the company filed its latest reorganization plan in court.

After 20 months and millions of dollars in attorney fees, time is running short on Tribune Co.'s campaign to control its own destiny in Bankruptcy Court.