Tribune Findings Mixed in Examiner Report on Buyout

The biggest piece of Tribune Co.’s 2007 buyout is likely to survive a court challenge, even though managers used an improper solvency test to justify part of the $8.3 billion deal, an independent examiner said.

Creditors who blame the buyout for the newspaper publisher’s bankruptcy are “somewhat likely” to win a lawsuit based on the smaller piece of the two-part deal, attorney Kenneth N. Klee found in a report issued yesterday.