WAN-IFRA

Shaping the Future of the Newspaper

Date

Thu - 24.05.2012


Philadelphia Newspapers get green light to hire investment firm

Philadelphia Newspapers get green light to hire investment firm

The owners of The Philadelphia Inquirer and Philadelphia Daily News have been granted permission to hire investment firm Sonenshine Partners LLC, The Associated Press reported.

Lenders agreed to let the newspaper publisher hire the firm at $75,000 a month after debating whether the groups efforts would overlap those of Alvarez and Marsal, another firm already working for the company.

The newspaper company filed chapter 11 in February, claiming $395 million in debt. The papers' projected income is expected to drop by $15 million this year.

Author

Leah McBride Mensching

Date

2009-04-14 11:46

Shaping the Future of the Newspaper


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