NYC judge OKs sale Journal Register Co. assets
NYC bankruptcy judge clears way for sale of Journal Register Company assets
NEW YORK (AP) -- A bankruptcy judge says newspaper publisher Journal Register Co. can sell its assets to an affiliate of its current owner.
A federal bankruptcy court judge in Manhattan on Thursday approved the sale of assets controlled by the publisher of more than a dozen local newspapers.
The judge found a union's objection to the sale lacks merit because a collective bargaining agreement will expire before the sale closes.
The decision clears the way for 21st CMH Acquisition Corp. to buy the assets for $114 million in secured debt and $6 million cash.
The Yardley, Pa.-based Journal Register Co. publishes 18 papers between New England and Michigan and estimates its total print and online audience at 21 million. It filed for bankruptcy in September.
