Business Briefing

O.C. Register parent to reorganize

A federal bankruptcy judge in Delaware has approved the Chapter 11 reorganization plan of Freedom Communications Inc., the Irvine-based owner of the Orange County Register and other media properties.

Under the plan, Freedom’s secured lenders, including JPMorgan Chase & Co. and Bank of New York Mellon Corp., would assume ownership of the company in return for cutting the debt owed to them by nearly 60%, to $325 million.

Unsecured creditors who challenged an initial proposal giving them only about $5 million stand to recover far more than that under the revised plan. Pension holders would get about 70% of their original pensions.

TECHNOLOGY

Cisco upgrading Internet router

Cisco Systems Inc. of San Jose says it is upgrading one of its biggest pieces of networking hardware, a router that’s used to power the most trafficked parts of the Internet backbone.

Routers play an important role as the Internet’s traffic cops, shunting packets of data to their destinations. Those placed at the Internet’s backbone -- the main arteries for traffic -- need the most capacity given the amount of data passing through.

ELECTRONICS

3-D TV sets to arrive in stores

Samsung Electronics Co. and Panasonic Corp. will start selling 3-D televisions in U.S. stores this week, inaugurating what TV makers hope is the era of 3-D viewing in the living room.

Samsung announced that it was selling two 3-D TV sets. Combined with the required glasses and a 3-D Blu-ray player, the prices start at about $3,000 for a 46-inch screen.

AIRLINES

On-time arrivals soar in January

U.S. airlines have had their best January in four years when it comes to arriving on time.

The Transportation Department said the airlines averaged a 78.7% on-time arrival rate in January.

-- times wire reports