MEDIA

Oakland Tribune, Creditors Reach Agreement: A committee of unsecured creditors negotiating with the cash-strapped Oakland Tribune has recommended to suppliers that they accept a proposed settlement of 21 cents on the dollar in payment of their claims. The committee’s members hold about half of the $4.7 million in claims for trade supplies and services against the paper. Under the agreement, creditors owed less than $953 will receive $200 or their full claims, whichever is less. The Freedom Forum foundation vowed in August to invest $5 million in the paper, but only if the newspaper could negotiate to reduce its staggering debt.