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Journal Register seeking judicial approval of sale

March 16. 2013 6:59PM
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(AP) The Journal Register Co. is seeking judicial approval of its sale to 21st CMH Acquisition Co.

The bankrupt Yardley, Pa.-based media conglomerate signed a purchase agreement with 21st CMH in a recently concluded public auction.

Journal Register will seek judicial approval of the sale at a Thursday hearing in New York.

Journal Register filed for bankruptcy protection in September for the second time in three years and hopes to reduce pensions and other costs through a quick sale of its assets.

The company has 18 newspapers and other media properties in 10 states, including the New Haven Register in Connecticut, The Oakland Press in Pontiac, Mich., and The Daily Local News in West Chester.

21st CMH is an affiliate of funds managed by New York hedge fund Alden Global Capital LLC.

Associated Press

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