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Analysis: What's next for MediaNews
Original post made
on Jan 19, 2010
The company that owns the San Ramon Valley (Contra Costa) Times, San Jose Mercury News, Oakland Tribune and some 50 other daily newspapers, as well as 100 non-daily papers in 12 states, will soon declare bankruptcy, initiating a proceeding in federal court. The bankruptcy of holding company Affiliated Media Inc., in the form of a Chapter 11 filing, is the result of inability to pay huge debts accumulated in recent years when MediaNews Corp. acquired many of the papers it now owns.
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posted Tuesday, January 19, 2010, 3:54 PM