Date

Fri - 17.11.2017


Brown Publishing

Brown Publishing Co., the Ohio-based newspaper chain which filed for bankruptcy in May, has received two qualifying bids, including a $22.4 million one from company insiders, Business Week reported.

Roy Brown, the current president and CEO of the newly formed Brown Media Corp., made the bid during an auction that ended Tuesday.

However, U.S. Bankruptcy Court Judge Dorothy Eisenberg postponed the hearing a week to review all paperwork. The bidders will have to wait a week to learn if the sale will be approved, The Associated Press reported.

Author

Erina Lin

Date

2010-07-23 21:54

Brown Publishing Co., the publisher 15 dailies and a number of weeklies mainly in Ohio, filed for bankruptcy due to advertising decline in real estate market, according to the Bloomberg's article posted on Business Week.

Brown, based-in Cincinnati, filed for reorganization on April 30. According to its statement, the private-held company and 14 affiliates had assets of $94.1 million and $104.6 million in debts as of March 31. The company is suffered from a drop in retail advertising in Ohio, as well as Dan's Paper's ad downturn affected by real estate market, said Chief Executive Officer Roy Brown in a court filing.

"Over the past two years, our employees have battled the effects of an unprecedented economic and financial crisis with inspirational grit and determination," Brown added. "It is with their interests pre-eminently in mind that we have pursued this course," Media Bistro reported.

The company's affiliates include Delaware Gazette Co., Texas Business News LLC and Utah Business Publishers LLC, according to the article posted on SFGate.

Author

Erina Lin

Date

2010-05-03 23:22

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