Tribune Co., the owner of the Chicago Tribune, Los Angeles Times and 23 television stations, said on Friday that it received regulatory approval needed to end its nearly four-year stay in bankruptcy, Reuters reported on Friday. Tribune said that it received approval from the Federal Communications Commission to transfer its broadcast licenses to the new owners who will take over the company when it emerges from bankruptcy. Tribune filed for bankruptcy in 2008, a year after real estate mogul Sam Zell gained control through a leveraged buyout. The company plans to transfer ownership to its main creditors -- Oaktree Capital Management, JPMorgan Chase & Co and Angelo, Gordon & Co.
