The Journal Register Co., publisher of newspapers in Middletown, New Haven and Torrington, has filed for bankruptcy protection for the second time in three years and hopes to reduce pensions and other costs through a quick sale of the news company’s assets, The Associated Press reports.
Journal Register has 18 newspapers and other media properties in 10 states, including the New Haven Register in Connecticut and The Oakland Press in Pontiac, Mich. The company expects normal operations to continue during the Chapter 11 reorganization.
Alden Global Capital, a New York hedge fund, acquired Journal Register last year. An Alden affiliate has posted an initial bid to buy the company at a bankruptcy auction expected within 90 days. Alden has been investing in distress sales of various newspaper and media concerns, including Philadelphia Newspapers, in recent years.
Journal Register, based in Yardley, also operates The Daily Local News in West Chester, among other newspapers. A company called Digital First Media currently operates Journal Register along with Media General, another news chain.
