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Dec 11

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As a compromise deal between Democrats and the White House to extend $14 billion in emergency loans to struggling U.S. automakers moves forward, it faces strong opposition by some GOP lawmakers.

Media conglomerate Tribune Co. filed for bankruptcy protection Monday, as the owner of the Chicago Tribune, the Los Angeles Times, the Chicago Cubs and several other newspapers and TV stations tries to restructure its debt of $13 billion.

The three biggest U.S. automakers -- Ford Motor Co., General Motors Corp., and Chrysler LLC -- submitted plans to Congress on Tuesday, in hopes of getting a line of credit from the government to keep their companies in business.