MediaNews Files Chapter 11
January 18, 2010 at 4:47 AM (PT)
The bankruptcy of the holding company that owns newspaper publisher MEDIANEWS GROUP INC. has a radio component, because DEAN SINGLETON's company owns four stations in the ABILENE, TEXAS area through its GRAHAM NEWSPAPERS subsidiary. The stations include Classic Hits KWKQ (KOOL 94.7) and Country KSWA-A/GRAHAM, TX and Oldies KROO-A and Country KLXK (K-LAKES)/BRECKENRIDGE, TX.
MEDIANEWS owns 56 daily newspapers, including the DENVER POST, ST. PAUL PIONEER PRESS, SAN JOSE MERCURY NEWS, and LOS ANGELES DAILY NEWS, and CBS affiliate KTVA (TV)/ANCHORAGE. AFFILIATED MEDIA, the holding company, has filed a prepackaged Chapter 11 bankruptcy that leaves CEO SINGLETON and President JOSEPH LODOVIC IV in control and trades new equity to lenders while cancelling existing equity. The company does not expect any changes in "business as usual" as a result of the filing.