More Bad News for News Biz

May 3 2010, 11:02 AM

The news for newspapers hasn't exactly been great lately. Last week, The Denver Post did its best to put a positive spin on the fact that its weekday sales are down more than 10 percent. Now, newspaper publishers Brown Media Holdings and Brown Publishing, which print the Boulder County Business Report, the Northern Colorado Business Report, and the Cheyenne Business Report in Wyoming, among others, have filed for Chapter 11 bankruptcy and plan to sell it assets to a pre-selected bidder, according to The Associated Press. The Cincinnati-based, family-owned businesses will sell all their assets in Ohio, New York, Texas, South Carolina, Illinois, Iowa, Colorado, Utah, Arizona, and Wyoming. That's 15 daily newspapers, 32 weekly newspapers, 11 business publications, and 41 free newspapers, shoppers, or niche publications. In March, Affiliated Media, the holding company of Denver-based MediaNews Group Incorporated, which publishes The Denver Post, The Daily Camera of Boulder, and other Colorado papers, emerged from Chapter 11 bankruptcy protection after the bankruptcy court approved a plan that let it significant lower debt, according to The Denver Business Journal. And about a week ago, California-based Freedom Communications, the publisher of the Colorado Springs Gazette, left Chapter 11 with lower debt and new ownership under several hedge funds. As for Brown, the "decision to sell was made to help assure that the businesses involved are best positioned to prosper in the years ahead," Roy Brown, chief executive of Brown Media Holdings, says in a press release cited by the Boulder County Business Report.