Date

Fri - 22.09.2017


Journal Register Co.

paidContent yesterday published this chart (left, click for larger view), which compares how long seven of the top U.S. publishers have spent in bankruptcy, as well as how their basic financial situations differ.

The publishers include MediaNews, Freedom Communications, Sun-Times, Journal Register, Philadelphia Newspapers, Star Tribune and Tribune.

Author

Leah McBride Mensching

Date

2010-10-19 17:40

The Chicago media group, JAMS Media, plans to purchase 13 Michigan weeklies from the Journal Register Co., Editor & Publisher reported.

The acquisition has been approved by the U.S. Bankruptcy Court at the end of May. The Journal Register filed for Chapter 11 in February.

JAMS Media already publishes several titles in Michagan counties, but this transaction will increase JAMS's circulation in counties in southern and middle Michigan to 250,000.

Peter Neill, a veteran executive from JAMS parent company, Chicago Sun-Times, will be managing the media group. Neill has also held the post as vice president and general manager of Michigan's Observer & Eccentric Newspaper, which is managed by the Detroit Media Partnership, according to E&P.

Author

Leah McBride Mensching

Date

2009-06-05 08:48

The Journal Register Co. has appealed to U.S. bankruptcy court for permission to cut ties with unions representing 220 of its employees, the Wall Street Journal reported.

The publisher seeks to eliminate various pension obligations and impose a 15 percent salary decrease on employees belonging to the unions in question. Papers filed by the company with the bankruptcy court state the moves are necessary to reach a projected $2.6 million in savings through labour cutbacks. Employees at the company's Detroit papers may also have certain policies, such as overtime pay, called into question.

The cost-cutting measures are integral in the company's filing for Chapter 11 bankruptcy protection; if they do not take place, creditors may not be supportive of the bankruptcy plan, according to the Wall Street Journal.

The proposal comes as no surprise to union president Dave DeLong, who pointed out that the company had warned of this possibility in February.

Before filing Chapter 11 in late February, the Journal Register had already imposed cost cuts and eliminated almost a third of its staff in the three years leading up to the filing, the Wall Street Journal reported.

Author

Leah McBride Mensching

Date

2009-05-14 09:31

Since the end of last year, five major U.S. newspapers have filed for bankruptcy protection, The Associated Press reported.

and the Spanish language free daily Hoy in Chicago, whose sister edition in Los Angeles has just become a weekly. Tribune Co. has an accumulate debt of US$13 billion and had $7.6 billion in assets when it filed chapter 11.


Star Tribune Holdings Corp. also filed for protection at the beginning of the year, partly due to the large amounts of debt accrued from the 2007 acquisition from McClatchy. The Holdings Corp. owns the Star Tribune of Minneapolis.

In February, the Journal Register Co. filed for protection. Journal Register owns several dailies in Connecticut, Pennsylvania, New Jersey, Michigan, and New York. The company counts $692 million in debt and has sold two of its Connecticut dailies and closed a number of weeklies.

Author

Leah McBride Mensching

Date

2009-04-01 11:42

Citing diving advertising revenues, the Yardley-based Journal Register Co., operating mostly in Philadelphia, Cleveland and Michigan, filed for bankruptcy on Friday, Bloomberg News reported Saturday.

The company's debt totals up to US$1 billion, with assets of between $100 million and $500 million. The company's revenues have decreased by more than 20 percent since 2006, CEO James Hall stated in court documents.

Under a proposed reorganisation plan, all stocks would be cancelled and the Journal Register would become a closely held company, owned by its lenders, according to the Bloomberg report, posted by Philly.com.

If reorganisation goals are met, Journal Register has petitioned the bankruptcy court for permission to pay its top officers and "key employees" up to $1.7 million in bonuses, Bloomberg reported.

In 2007, the company cut costs through closing 34 publications, cutting 112 jobs, ended management bonuses and memberships to country clubs and sold its corporate jet, according to Bloomberg.

Journal Register owns 20 daily newspapers, 159 non-dailies and employs about 3,500 people.

Author

Leah McBride Mensching

Date

2009-02-23 23:48

U.S. newspaper group Journal Register Co. is closing dozens of small newspapers, as no buyers have come forward, paidContent reported Thursday.

The company was de-listed from the New York Stock Exchange last year after it defaulted on debt. Journal Register has not disclosed its newspaper closure information to the public. Journal Register owns 27 dailies and 327 non-dailies.
The latest closures were announced Wednesday, according to MediaPost.

In upstate New York, closures include: the Millbrook Round Table, the Voice Ledger of Pleasant Valley, the Gazette-Advertiser of Rhinebeck, the Pawling News Chronicle, the Harlem Valley Times, the Hyde Park Townsman, the Register Herald of Pine Bluffs and the Putnam County Courier, all of which were published by Journal Register's Taconic Press group.

Other New York titles folding include: Weekend, Dutchess Magazine, the Hudson Valley Guide and The Independent, all in New York.

Journal Register has closed several newspapers in Philadelphia and the surrounding area, including the Hershey Chronicle, Northeast Philadelphia Breeze, the News Gleaner, the Olney Times, the Germantown Courier and the Mount Airy Times Express, according to MediaPost.

Author

Leah McBride Mensching

Date

2009-02-13 00:30

Michael E. Schroeder, the former editor of New York's Newsday, will buy two Connecticut-based Journal Register Co. newspapers, saving them from closure Jan. 15, the Republican-American reported Thursday.

Local and state officials had tried to save the papers, promising potential buyers tax incentives and programmes that aid in keeping local businesses open.

Connecticut's Department of Economic and Community Development sent letters at the beginning of December to 16 media companies detailing Journal Register's plans to close daily newspapers The Herald (New Britain, Conn.) and The Bristol Press, as well as 11 weeklies.

Details of the sale have not been disclosed, the Republican American reported.

"One of the things you're seeing in a lot of markets is chain control and management by phone. I don't think that works," Schroeder told the Republican-American. "Our focus is going to be on the community we serve."

Author

Leah McBride Mensching

Date

2009-01-09 23:01

The Journal Register Co. closed three community papers in Philadelphia on Thursday, the Philadelphia Daily News Reported. The company had attempted to sell the Olney Times, News Gleaner and Northeast Breeze, all weekly papers, but was unsuccessful, Stuart London, the News Gleaner's sports editor, told the Daily News.

Publisher J. Wesley Rowe Jr. told employees that the difficult economy and inability to sell the titles were reasons for closure, London said.

Last month, the company announced it would shut two of its Connecticut papers if buyers didn't emerge by January 12, 2009. The Journal Register Co is US$650 million in debt and has a forbearance agreement with its lenders, according to the Daily News article posted by MediaInfoCenter.

"The suddenness of it was stunning. There was no farewell edition or anything on the Web site. We cleaned out desks and left in two hours" after Rowe made his announcement, London told the Daily News.

The News Gleaner has covered the Northeast Philadelphia community since 1882.

Author

Alexandra Zeumer

Date

2008-12-16 10:04

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