Tribune offers to fund Freedom bankruptcy

Tribune Publishing Co., the owner of the Los Angeles Times, Wednesday offered $3 million to fund Freedom Communications Inc.’s bankruptcy case, setting the stage for a potential bidding war for the publisher of the Orange County Register involving the paper’s existing management and their larger rival to the north.
A lawyer for the Tribune, a newspaper publisher that has made its own pass through bankruptcy in recent years, said that all it wants in exchange for the $3 million deposit is the right to bid during a sale process for the publisher of the Orange County Register or to be paid back if the assets are sold to someone else.
“We merely want the opportunity to bid at a fair, open, transparent proceeding,” the lawyer said.
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