Brown Publishing Co., the Ohio-based parent of a handful of business newspapers from across the country, has filed for bankruptcy court protection and plans to sell its assets to a bidder.
An AP story states, “The Cincinnati-based, family-owned companies filed Friday in the U.S. Bankruptcy Court for the Eastern District of New York. They say the unnamed bidder will assume most liabilities.
“The sale involves all the companies’ assets in Ohio, New York, Texas, South Carolina, Illinois, Iowa, Colorado, Utah, Arizona and Wyoming. The companies operate 18 daily newspapers, 27 weekly newspapers and other publications in those states.
“Chief Executive Roy Brown says the decision was made to help ensure the businesses are ‘best positioned to prosper in the years ahead.'”
Read more here.
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