Free Republic

Tribune Co filed a reorganization plan late on Friday that will turn over control of the bankrupt newspaper publisher to its leading creditors including JPMorgan Chase & Co, Angelo Gordon & Co and Oaktree Capital Management. The plan signals an important step toward the recovery of the media company -- which owns the Los Angeles Times and the Chicago Tribune -- from what Sam Zell, the real estate developer and architect of the 2007 leveraged buyout, called "the deal from hell."