Tribune Co.'s emergence from bankruptcy collapses

The Tribune Co.'s plan to emerge from bankruptcy has collapsed after negotiations with creditors on a consensual reorganization plan failed. Attorneys told a Delaware bankruptcy judge that Tribune has been unable to bring parties in its bankruptcy case together, and that JPMorgan Chase and distressed-debt specialist Angelo, Gordon & Co. have dropped out a settlement agreement that would have left them among the new owners of the company. A Tribune attorney says the company will file amendments to its current plan next week in a final effort to achieve support from creditors.