NYC judge OKs sale Journal Register Co. assets

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Associated Press

Posted on March 22, 2013 at 5:34 PM

Updated Friday, Mar 22 at 6:02 PM

NEW YORK (AP) — A bankruptcy judge says newspaper publisher Journal Register Co. can sell its assets to an affiliate of its current owner.

A federal bankruptcy court judge in Manhattan on Thursday approved the sale of assets controlled by the publisher of more than a dozen local newspapers.

The judge found a union's objection to the sale lacks merit because a collective bargaining agreement will expire before the sale closes.

The decision clears the way for 21st CMH Acquisition Corp. to buy the assets for $114 million in secured debt and $6 million cash.

The Yardley, Pa.-based Journal Register Co. publishes 18 papers between New England and Michigan and estimates its total print and online audience at 21 million. It filed for bankruptcy in September.

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