Brown Publishing files Chapter 11 bankruptcy
By
-
Brown Publishing files Chapter 11 bankruptcy
Company owns Times-Gazette, County Shopper
Brown Media Holdings Co. and Brown Publishing Co., the owner of two Highland County publications, The Times-Gazette and the County Shopper, have filed for Chapter 11 bankruptcy relief and plan to sell their assets to a bidder chosen by the companies, The Associated Press reported May 1.
The company also owns newspapers in surrounding counties, including: The Wilmington News Journal and Star Republican, The Record Herald in Washington C.H., The People's Defender in West Union, The News Democrat in Georgetown and The Ripley Bee.
According to the AP, "The Cincinnati-based companies filed Friday, April 30 in the U.S. Bankruptcy Court for the Eastern District of New York. They say the unnamed bidder will assume most liabilities."
Reports by the company say a "stalking horse bidder is in place to
acquire the companies' assets."
According to reports by Editor & Publisher, The Cincinnati Enquirer and other publications, Brown had considered filing for bankruptcy last year.
Mark Fitzgerald wrote in Editor & Publisher in April 2009 that "a West Coast investment firm with a minority stake in Brown Publishing Co. alleges in a lawsuit that the family controlled Ohio chain ... was preparing a
bankruptcy filing ..."
Fitzgerald wrote that "Acting on a request in the lawsuit by Windjammer Capital Investors of
Newport Beach, Calif., a Hamilton County, Ohio, judge issued a temporary restraining order halting ... any bankruptcy filing."
The company denied in 2009 that it was filing bankruptcy, saying it had no intention of making a bankruptcy filing now or in the future.
The Business Courier of Cincinnati reported last year that Windjammer Capital Investors alleged that Brown’s board voted to "sell all of its assets to Business Publications Co. LLC, a newly created entity that was registered with the state of Ohio by Brown’s general counsel in February.
"Its Alliance Road address is the same as Brown’s."
It is unclear whether last year's actions are related to the company's April 30, 2010 Chapter 11 bankruptcy filing in the U.S Bankruptcy Court for the Eastern District of New York.
Brown Media Holdings Co. and Brown Publishing Co., the owner of two Highland County publications, The Times-Gazette and the County Shopper, have filed for Chapter 11 bankruptcy relief and plan to sell their assets to a bidder chosen by the companies, The Associated Press reported May 1.
The company also owns newspapers in surrounding counties, including: The Wilmington News Journal and Star Republican, The Record Herald in Washington C.H., The People's Defender in West Union, The News Democrat in Georgetown and The Ripley Bee.
According to the AP, "The Cincinnati-based companies filed Friday, April 30 in the U.S. Bankruptcy Court for the Eastern District of New York. They say the unnamed bidder will assume most liabilities."
Reports by the company say a "stalking horse bidder is in place to acquire the companies' assets."
According to reports by Editor & Publisher, The Cincinnati Enquirer and other publications, Brown had considered filing for bankruptcy last year.
Mark Fitzgerald wrote in Editor & Publisher in April 2009 that "a West Coast investment firm with a minority stake in Brown Publishing Co. alleges in a lawsuit that the family controlled Ohio chain ... was preparing a bankruptcy filing ..."
Fitzgerald wrote that "Acting on a request in the lawsuit by Windjammer Capital Investors of Newport Beach, Calif., a Hamilton County, Ohio, judge issued a temporary restraining order halting ... any bankruptcy filing."
The company (Brown) denied in 2009 that it was filing bankruptcy, saying it had "no intention of making a bankruptcy filing now or in the future."
The Business Courier of Cincinnati reported last year that Windjammer Capital Investors alleged that Brown’s board voted to "sell all of its assets to Business Publications Co. LLC, a newly created entity that was registered with the state of Ohio by Brown’s general counsel in February.
"Its Alliance Road address is the same as Brown’s."
It is unclear whether last year's actions are related to the company's April 30, 2010 Chapter 11 bankruptcy filing in the U.S Bankruptcy Court for the Eastern District of New York.
[[In-content Ad]]