Free Republic

SAN JOSE (CBS 5 / AP) ― The holding company for newspaper publisher MediaNews Group filed for Chapter 11 protection Friday and expects to emerge from bankruptcy in a month or two. Affiliated Media Inc., the privately held parent company for the owner of 54 daily newspapers including the San Jose Mercury News, Oakland Tribune, Contra Costa Times and Marin Independent Journal, had said Jan. 15 it would be making the move. The company said it had a deal with creditors that will cut its debt to $165 million from $930 million. Lenders led by Bank of America would get...

Owner of Denver Post, Salt Lake Tribune plans prepackaged Chapter 11 bankruptcy filing. Affiliated Media Inc., the holding company for the MediaNews Group family of newspapers that includes The Denver Post, said Friday that it plans to file for Chapter 11 bankruptcy protection. The company said it would file a "prepackaged" plan already approved by lenders, which should allow it to emerge from bankruptcy more quickly. Under the plan, company debt would fall from about $930 million to $165 million. Senior lenders would swap debt for stock. Earlier this week, Morris Publishing Group, owner of 13 daily newspapers including the...