Denver, San Jose, Oakland, Detroit papers enter Chapter 11
January 20th, 2010 | 
Author: MediaNews Group – which owns The Denver Post, Oakland Tribune, San Jose Mercury News and Detroit News – has entered a prepackaged Chapter 11 bankruptcy with the intent of turning most of the company over to lenders and getting a fresh start.
Hearst will lose its $300 million investment from 2006, and Bank of America will forgive $765 million in debt in exchange for a nice chunk of the company.
MediaDailyNews has a nice story on the MediaNews bankruptcy filing, as well as an update on Tribune and other bankruptcies.
Posted in Print Newspapers
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