Tribune Co. CEO Randy Michaels announced Friday that the company would not file a new reorganization plan with the bankruptcy court after all, preferring to continue negotiations with creditors. "“Since last week, we have been involved in discussions with our various creditor constituencies about our restructuring plan,” CEO Randy Michaels and COO Gerry Spector wrote in an email to employees Friday afternoon. “Given the ongoing nature of those discussions, we have decided not to file any amendments to our plan at the present time. We’ll continue to keep you aware of developments in the Chapter 11 process as we go forward.”

The statement came after rumors circulated that former Disney CEO Michael Eisner was being courted by Tribune's creditors as the company's new leader.

Check out the following articles for more info: Bloomberg, Tribune post-bankruptcy, The Wrap, LATimes.