1. Bring all but 1 tablespoon wine (reserve for later use), broth, parsley sprigs, thyme, and bay to simmer in large saucepan over medium-high heat. Cook until reduced to 3 cups, about 25 minutes. Discard herbs.

2. Meanwhile, cook bacon in large Dutch oven over medium heat until browned, 7 to 8 minutes. Using slotted spoon, transfer bacon to paper-towel-lined plate. Reserve 2 tablespoons fat in small bowl; discard remaining fat.

3. Lightly season chicken with salt and pepper. Heat 1 tablespoon reserved bacon fat in Dutch oven over medium-high heat until just smoking. Add half of chicken in single layer and cook until lightly browned, about 2 minutes per side. Transfer to plate and repeat with remaining chicken and 1 tablespoon bacon fat.

4. Melt 3 tablespoons butter in now-empty Dutch oven over medium-high heat. When foaming subsides, add pearl onions and mushrooms; cook, stirring occasionally, until lightly browned, 5 to 8 minutes. Reduce heat to medium, add garlic, and cook until fragrant, about 30 seconds. Add tomato paste and flour; cook, stirring frequently, until well combined, about 1 minute.

5. Add reduced wine mixture, scraping bottom of pot with wooden spoon to loosen browned bits; add 1/4 teaspoon pepper. Return chicken, any accumulated juices, and reserved bacon to pot; increase heat to high and bring to boil. Reduce heat to medium-low, cover pot, and simmer until chicken is tender, about 25 minutes, stirring halfway through cooking time.

6. Using slotted spoon, transfer chicken to large bowl; tent with foil to keep warm. Increase heat to medium-high and simmer sauce until thick and glossy and measures 3 cups, about 5 minutes. Off heat, stir in remaining 2 tablespoons butter and reserved 1 tablespoon wine. Season to taste with salt. Return chicken to pot and top with minced parsley. Serve immediately.

Serves 4 to 6