DENVER, Jan. 16 (UPI) -- The publisher of the Denver Post, The Detroit News, the Salt Lake Tribune and 51 other daily newspapers says it will declare bankruptcy.
Affiliated Media Inc., the holding company for the MediaNews Group of newspapers, based in Denver, said Friday it has reached a deal with its senior creditors to carry out a pre-packaged Chapter 11 bankruptcy as part of a financial restructuring, the News reported.
The company said in a statement that the reorganization won't affect newspaper operations and is being done to reduce Affiliated Media's debt by about $765 million to $165 million through a debt-for-equity swap.
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EXTRA!! EXTRA!! READ ALL ABOUT IT!!
ReplyDeleteThe continuation of Government Owned & Operated/Controlled News Media grows!
Long Live the Fairness Doctrine!
Ignorance is Stength - War is Peace - Freedom is Slavery!
Best news I've heard all month! The Denver Post is one of the most pathetic newspapers in the US, now if only Dallas Morning News will follow suite!
ReplyDeleteWho reads crappy dated news-newspapers now days; updates are online and who gives a crap about local gossip news that you can get on the nightly local TV or radio, if you want to hear the latest crime news, etc. Local store ads are online too. Papers all over have deteriorated rapidly in quality in the past decade...let 'em all go under!
ReplyDeleteTake a look at this video about the Deindustrialization of Tampa Bay:
ReplyDeletehttp://www.youtube.com/watch?v=jURLr7vZa3A
Yeah, the Dallas Morning News is shite. I'd like to see a ton of bad radio stations go under, too.
ReplyDelete