Brown Publishing Co., the Ohio-based newspaper chain which filed for bankruptcy in May, has received two qualifying bids, including a $22.4 million one from company insiders, Business Week reported.

Roy Brown, the current president and CEO of the newly formed Brown Media Corp., made the bid during an auction that ended Tuesday.

However, U.S. Bankruptcy Court Judge Dorothy Eisenberg postponed the hearing a week to review all paperwork. The bidders will have to wait a week to learn if the sale will be approved, The Associated Press reported.