Journal Register Files Second Chapter 11 Petition
Newspaper publisher Journal Register Co. returned to Chapter 11 after emerging from a prior bankruptcy reorganization three years ago. The first time, secured lenders took ownership in exchange for debt. The new lender and owner Alden Global Capital Ltd. intends also to take ownership in a debt swap.
Journal Register has daily publications with a circulation of 410,000 on weekdays and 475,000 on Sundays. The newspapers are around Philadelphia, Detroit and Cleveland, and in upstate New York. In addition, the company publishes free, non-daily publications with a distribution of 1.7 million.