Tribune Company to Leave Bankruptcy Protection The Tribune Company won court approval on Friday to emerge from Chapter 11 bankruptcy protection, more than four years after a leveraged buyout left it with unsustainable debt. Judge Kevin J. Carey of United States Bankruptcy Court in Wilmington, Del., overruled outstanding objections by various creditors to the company's plan, which leaves Tribune in the hands of a new ownership group led by the hedge fund Oaktree Capital Management, JPMorgan Chase and Angelo, Gordon & Company, a firm that invests in troubled companies. Once final revisions to the plan are made, Judge Carey said, he will confirm it. Tribune publishes The Los Angeles Times, The Baltimore Sun and The Chicago Tribune. It also owns WGN in Chicago and 22 other television stations.