Tribune given more time to file bankruptcy papers

WILMINGTON, Del. -- A Delaware bankruptcy judge has granted the Tribune Co. more time to file schedules of its assets and liabilities and other financial statements.

Judge Kevin Carey on Thursday agreed to give the nation's largest employee-owned media and entertainment company until late March to provide details of its financial affairs.

The judge also approved a short-term letter of credit facility to be provided by Barclays Bank PLC and other institutions to allow Tribune to continue operations. The judge last month allowed Tribune to continue a securitization arrangement with Barclays that will allow it to access an additional $75 million, for a total of $300 million.

Tribune, which owns the Los Angeles Times, Chicago Tribune, The (Baltimore) Sun, The Hartford Courant and other dailies, as well as 23 television stations and the Chicago Cubs baseball team, was forced to seek bankruptcy protection because of dwindling advertising revenues.