CARS HOMES JOBS

Decision clears way for sale of parent company of two local newspapers

Friday, March 22, 2013
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— A bankruptcy judge says the publisher of The New Haven Register in Connecticut, The Trentonian in New Jersey and other news products can sell its assets to an affiliate of its current owner.

The judge’s ruling was issued in federal bankruptcy court in Manhattan. It found that a union’s objection to the sale “lacks merit” since a collective bargaining agreement will expire before the sale closes.

The decision on Thursday clears the way for 21st CMH Acquisition Corp. to buy the assets of the Journal Register Co. for $114 in secured debt and $6 million case.

The Pennsylvania-based Journal Register Co. delivers local news though newspapers and online products reaching 21 million people in 10 states, according to its website. It filed bankruptcy in September. Among the papers in the chain are the Troy Record and the Saratogian.

 

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