Cubs Sale To Go To Bankruptcy Judge On August 31

This is considered expediting the process so the sale can be completed.

over 2 years ago Al Yellon 8 comments 0 recs |

Read More: tom ricketts, tribune co., cubs sale

Comments

Good to hear

though I think everyone expected the approval to be perfunctory. When the two major lenders for the transaction are also two of the major creditors to the debtor in bankruptcy trying to make the transaction… it tends to get approved.

Chicago Cubs Rumors and News

by Brett Taylor on Aug 24, 2009 9:34 PM CDT reply actions

More on the upcoming steps...

… in this Tuesday Tribune article.

"You can observe a lot just by watching." ~ Yogi Berra

by Al Yellon on Aug 25, 2009 8:37 AM CDT reply actions

Interesting nugget from that article

Court papers also revealed that Tribune Co.-owned WGN will retain rights to broadcast certain Cubs games on radio and television through Oct. 31, 2022.

I would have imagined a ~5 year extension at most, so 13 years seems very excessive to me. Sticking with WGN in some capacity is probably the correct move, but I would have expected that the Rickettses would have requested to be given the flexibility to have open negotiations for the radio and broadcast TV contracts. That would have helped them maximize income and would have made it easier for a run at a Cubs-only cable network down the road if they desired to do so.

by Qixotl on Aug 25, 2009 2:03 PM CDT up reply actions

I suspect most of the deal is for radio, not TV.

"You can observe a lot just by watching." ~ Yogi Berra

by Al Yellon on Aug 25, 2009 3:30 PM CDT up reply actions

"Most"?

The deal restates the existing broadcast contracts: WGN has home-territory exclusivity for everything not trumped by MLB or CSN (in that order). The separate “Superstation Extension,” as the name suggests, extends the agreement between MLB and WGN America but is not necessary for the sale to close. The rate at which games will migrate from WGN-TV to CSN is not disclosed.

For the patient, this is summarized in paragraphs 46-50 of Monday’s “Motion for Orders…,” which can be found at chapter11.epiqsystems.com.

Case studies quote patients reporting a sensation of "giving way," a "bursting noise" or "sudden explosion."

by Caledonia on Aug 25, 2009 10:17 PM CDT up reply actions

Got a direct link to those paragraphs?

I can’t find it on that site.

"You can observe a lot just by watching." ~ Yogi Berra

by Al Yellon on Aug 26, 2009 8:13 AM CDT up reply actions

PDF

http://preview.tinyurl.com/lnmg8h

The general route is chapter11.epiqsystems.com → “Tribune Company” → “Docket” tab. The Motion for Orders is currently on page 3 of 183; the Formation Agreement itself is separately linked as Exhibit A to that motion; I haven’t had a chance to see what it may have to add.

Case studies quote patients reporting a sensation of "giving way," a "bursting noise" or "sudden explosion."

by Caledonia on Aug 26, 2009 4:50 PM CDT up reply actions

I get the impression...

…this bankruptcy judge is making it a point to expedite the process. If so, I commend him greatly.

I've committed to tweeting about the Cubs for the rest of the season. (Does that sound as ridiculous as I think it does?) Anyway, if you're on Twitter, you can follow me here.

by daver on Aug 25, 2009 11:52 AM CDT reply actions