Tribune bankruptcy Fees Top $150 Million

The Tribune Company has paid over $150 million in professional fees related to the newspaper publisher and television station operator’s Chapter 11 case. The lawyers, advisers and bankers working on the media giant’s case were paid $10.24 million in fees and expenses from March 28 to April 24, bringing Tribune’s total bill since its 2008 filing to $157.65 million.

Last month, Tribune’s primary attorneys, Sidley Austin LLP, were paid the most among the 30 firms working on the case that submit their bills to the company. Sidley received $6.1 million in fees and expenses last month, bringing its total paid for the case to $41.7 million. The company’s restructuring adviser, consulting firm Alvarez & Marsal, had the second-highest tab in April, $795,613, court records show. Alvarez has been paid $14.7 million since the case began. Chadbourne & Parke LLP, the law firm representing Tribune’s unsecured creditors committee, has accrued the second-largest bill throughout the course of the case, $27.9 million, but did not receive a payment last month. In addition to its own attorneys and advisers, Tribune pays the bills for committees and other professionals appointed by the court.