MediaNews Group's holding company, the Denver-based Affiliated Media Inc., has emerged from bankruptcy, just six weeks after it filed to reorganise under Chapter 11, The Orange County Register reported today.

The reorganisation cut the company's debt to US$165 million, from $930 million, as secured lenders traded debt for an 89 percent stake in the company. CEO William Dean Singleton and President Joseph H. Lodovic IV now hold the remaining 11 percent and will continue controlling it.