Journal Register Co., Parent Company Of The Mercury, Files For Chapter 11 Bankruptcy

NEW YORK, N.Y. – Digital First Media, which operates MediaNews Group, Journal Register Co. and Digital First Ventures, on Wednesday announced that JRC filed voluntary petitions for Chapter 11 bankruptcy in U.S. Bankruptcy Court for the Southern District of New York and will seek to implement a prompt sale.

“We expect the auction and sale process to take about 90 days, and we are pleased to announce the company has a signed stalking horse bid for Journal Register Company from 21st CMH Acquisition Co., an affiliate of funds managed by Alden Global Capital LLC,” said John Paton, CEO of Digital First Media.

The filing enables JRC to continue normal business operations during the sale process.

Read more: http://business-news.thestreet.com/the-mercury/story/journal-register-co-parent-company-the-mercury-files-ch-11/1

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s