I am sure many of you have heard about the economic crisis in the newspaper business. It is due primarily to the increased usage of the internet as a source of news along with the impact of the recession. On January 22nd of this year, the holding company for the Denver Post, Affiliated Media Inc., filed for Chapter 11 bankruptcy protection. It was at least the thirteenth bankruptcy filing by a U.S. newspaper publisher in the past year. The Affiliated Media Inc. filed a “prepackaged” plan that would result in cutting the company’s debt from $930 million to $165 million. They intend to accomplish this by having senior lenders swap debt for stock.

Yesterday there was some good news. According to Reuters, Judge Kevin Carey of the U.S. Bankruptcy Court in Wilmington, Delaware approved the Affiliated Media Inc.’s bankruptcy reorganization plan on Thursday. This will make it possible for the publisher of the Denver Post to emerge from Chapter 11 protection this month. An Affiliated Media spokesman said the Denver-based company expects to do so on about March 19.

If you have any questions that I can help you with and you live in Denver, Aurora, Arvada, Brighton, Broomfield, Commerce City, Englewood, Golden, Highlands Ranch, Lakewood, Lafayette, Littleton, Northglenn, Westminster, Wheat Ridge, Colorado please feel free to contact me. Kevin D. Heupel, Colorado Bankruptcy attorney, 303-955-7570, COBankruptcyHelpEmail, free-consultation form.