Journal Register Company’s Bankruptcy Sale Approved

21 Mar

A NEW YORK bankruptcy judge has approved the sale of the Journal Register Company’s assets to Alden Global Capital’s stalking-horse bidder, 21st CMH Acquisition Corp. The ruling came down March 21.

The same judge had delayed a ruling March 19 to further review an objection to the sale made by a division of the Communication Workers of America.

“No one is giving them (the buyer) a free pass in the future,” the judge was quoted as saying in a Bloomberg story.

In the March 21 ruling, the judge ruled that since the transaction won’t close until after the union’s contract expires March 31, the sale could proceed.

Journal Register Co. employs some 1,800 full-time and 500 part-time workers spread across 10 states, including Nick Henderson, a copy editor at the Daily Freeman in Kingston, N.Y.

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One Response to “Journal Register Company’s Bankruptcy Sale Approved”

  1. Nick Henderson March 24, 2013 at 7:13 PM #

    Thanks for the mention, folks. What’s really aggravating about this whole deal is being told you’re laid off, but having no idea when. I was never given official notice, so I report to work each day without knowing if it will be my last. Local management is in the dark, too.

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