Date

Sat - 23.09.2017


Ohio newspaper publisher files for Chapter 11

Ohio newspaper publisher files for Chapter 11

Brown Publishing Co., the publisher 15 dailies and a number of weeklies mainly in Ohio, filed for bankruptcy due to advertising decline in real estate market, according to the Bloomberg's article posted on Business Week.

Brown, based-in Cincinnati, filed for reorganization on April 30. According to its statement, the private-held company and 14 affiliates had assets of $94.1 million and $104.6 million in debts as of March 31. The company is suffered from a drop in retail advertising in Ohio, as well as Dan's Paper's ad downturn affected by real estate market, said Chief Executive Officer Roy Brown in a court filing.

"Over the past two years, our employees have battled the effects of an unprecedented economic and financial crisis with inspirational grit and determination," Brown added. "It is with their interests pre-eminently in mind that we have pursued this course," Media Bistro reported.

The company's affiliates include Delaware Gazette Co., Texas Business News LLC and Utah Business Publishers LLC, according to the article posted on SFGate.

Author

Erina Lin

Date

2010-05-03 23:22

Shaping the Future of the News Publishing


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