Executives of bankrupt newspaper company seek to purchase Brown's assets

Some of the properties owned by the bankrupt Brown Publishing, which owns two Highland County publications, The Times-Gazette and the County Shopper, may end up with familiar ownership.

Under the headline, "Inside job," The Post and Courier of Charleston, S.C. reports on its website, www.postandcourier.com, "Previously unidentified, the bidder seeking to buy most of the assets of {Brown} knows exactly what it's getting into. The group is made up of three top executives from the current owner, Ohio-based Brown Publishing Co., which sought bankruptcy protection late last month."

The Post and Courier reports, "The newly formed Brown Media Corp. is led by Roy Brown, who is CEO of the bankrupt enterprise. His partners are Brown Publishing's chief financial officer and its in-house attorney. Their opening offer is $15.3 million for the 15 daily newspapers, 32 weekly papers, 11 business publications and other assets. Most are in Ohio.'

Editor and Publisher reported May 10, the "Cincinnati-based Brown Publishing Co., which listed debts of $104.6 million when it filed for Chapter 11 protection, is proposing to sell all its assets to a newly formed company owned by Brown Publishing CEO Roy Brown and two other top executives of the newspaper chain. The new company, Brown Media, is offering to buy the assets, including 18 dailies and two dozen paid weeklies, for $15.3 million. 

"Brown Media was incorporated on March 26, according to the filing," E&P said. "It is 100 percent owned by Roy Brown, Joel Dempsey, who is Brown Publishing’s vice president and general counsel, and Joseph Ellingham, Brown Publishing’s CFO."  

In addition to The Times-Gazette and County Shopper, Brown 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.

Some of the properties owned by the bankrupt Brown Publishing, which owns two Highland County publications, The Times-Gazette and the County Shopper, may end up with familiar ownership.

Under the headline, "Inside job," The Post and Courier of Charleston, S.C. reports on its website, www.postandcourier.com, "Previously unidentified, the bidder seeking to buy most of the assets of {Brown} knows exactly what it's getting into. The group is made up of three top executives from the current owner, Ohio-based Brown Publishing Co., which sought bankruptcy protection late last month."

The Post and Courier reports, "The newly formed Brown Media Corp. is led by Roy Brown, who is CEO of the bankrupt enterprise. His partners are Brown Publishing's chief financial officer and its in-house attorney. Their opening offer is $15.3 million for the 15 daily newspapers, 32 weekly papers, 11 business publications and other assets. Most are in Ohio."

Editor and Publisher reported May 10, the "Cincinnati-based Brown Publishing Co., which listed debts of $104.6 million when it filed for Chapter 11 protection, is proposing to sell all its assets to a newly formed company owned by Brown Publishing CEO Roy Brown and two other top executives of the newspaper chain. The new company, Brown Media, is offering to buy the assets, including 18 dailies and two dozen paid weeklies, for $15.3 million. 

"Brown Media was incorporated on March 26, according to the filing," E&P said. "It is 100 percent owned by Roy Brown, Joel Dempsey, who is Brown Publishing’s vice president and general counsel, and Joseph Ellingham, Brown Publishing’s CFO."  

In addition to The Times-Gazette and County Shopper, Brown 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.