The judge overseeing Tribune Co.’s bankruptcy case last week said he’s ready to approve a plan that will allow JPMorgan Chase and a group of hedge funds to take over ownership of the company.

U.S. Bankruptcy Judge Kevin Carey said he is awaiting some revisions in the plan before confirming it, according to the Chicago Tribune.

The company first filed for bankruptcy in late 2008, one year after financier Sam Zell purchased the publisher and broadcaster in a leveraged buyout.

The Tribune said once the plan is approved, Oaktree Capital will become the company’s largest shareholder, owning 22 percent. Angelo Gordon, another hedge fund, will have 9 percent ownership while JPMorgan will have an 8 percent stake.