GateHouse Media Files for Chapter 11 in Delaware - WBOC-TV 16, Delmarvas News Leader, FOX 21 -

GateHouse Media Files for Chapter 11 in Delaware

Posted:

 

DOVER, Del. (AP) - GateHouse Media Inc., which owns more than 400 community newspapers around the country, has filed for Chapter 11 bankruptcy protection in Delaware.

Friday's filing comes after the Fairport, N.Y.-based company announced earlier this month that it would file a prepackaged bankruptcy plan in order to restructure $1.2 billion in debt.

Under the plan, Newcastle Investment Corp., which owns 52 percent of GateHouse's outstanding secured debt, will combine GateHouse's media holdings with a batch of Dow Jones Local Media publications it recently bought from News Corp.

Newcastle will then issue stock in a new publicly traded holding company called New Media Investment Group. Holders of GateHouse secured debt could take stock in the new company or cash at 40 cents on the dollar.

 

  • Most Popular StoriesMost Popular StoriesMore>>

  • Woman Driving Wrong Way on Rt. 50 in Easton Sends Two to Hospital

    Woman Driving Wrong Way on Rt. 50 in Easton Sends Two to Hospital

    12/12/2017 04:32:00 -05:002017-12-12 09:32:00 GMT
    Tuesday, December 12 2017 8:04 AM EST2017-12-12 13:04:51 GMT
    Maryland State Police investigating a four-vehicle crash Monday night in Talbot County involving a car driving the wrong way down U.S. Route 50.More
    Maryland State Police are investigating a four-vehicle crash Monday night in Talbot County that involved a car driving the wrong way on U.S. Route 50.More
  • Police Seek ID of Long Neck Theft Suspect

    Police Seek ID of Long Neck Theft Suspect

    12/12/2017 14:31:00 -05:002017-12-12 19:31:00 GMT
    Tuesday, December 12 2017 2:31 PM EST2017-12-12 19:31:57 GMT
    Video surveillance photo of theft suspect. (Photo provided by Delaware State Police)Video surveillance photo of theft suspect. (Photo provided by Delaware State Police)
    Delaware State Police are asking the public’s help in identifying a woman accused of stealing from a customer at a supermarket in Long Neck.More
    Delaware State Police are asking the public’s help in identifying a woman accused of stealing from a customer at a supermarket in Long Neck.More
  • Deal Island Man Arrested After Crashing Kid's Birthday Party

    Deal Island Man Arrested After Crashing Kid's Birthday Party

    12/11/2017 16:25:00 -05:002017-12-11 21:25:00 GMT
    Monday, December 11 2017 4:25 PM EST2017-12-11 21:25:19 GMT
    Courtesy of the Wicomico County Sheriff's OfficeCourtesy of the Wicomico County Sheriff's Office
    The Wicomico County Sheriff's Office said a man was arrested Saturday night after he tried to forcefully enter a kid's birthday party while he was under the influence of alcohol.More
    The Wicomico County Sheriff's Office said a man was arrested Saturday night after he tried to forcefully enter a kid's birthday party while he was under the influence of alcohol.More
Powered by Frankly

All content © Copyright 2000 - 2017 WBOC. All Rights Reserved. For more information on this site, please read our Privacy Policy, and Terms of Service, and Ad Choices