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Freedom sells television stations

Freedom Communication, which owns the local daily The Gazette, will sell its television division to Sinclair Broadcast Group of Maryland. The company’s flagship paper, The Orange County Register, is reporting that the $385 million deal will erase the debt owed by Freedom and its newspapers. Freedom owns eight television stations, and the deal will close… Continue Reading Freedom sells television stations

A bankruptcy court judge approved the sale of the East Valley Tribune and other Phoenix-area media holdings yesterday to a Colorado company for $2.05 million. The sale by Freedom Communications includes the Tribune, Ahwatukee Foothills News, Sun City Daily News-Sun and Arizona Interactive, a commercial printer and publisher of The Clipper, in addition to sister… Continue Reading Court OKs sale of Freedom’s East Valley Tribune

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Gazette owner to exit bankruptcy

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Freedom Communications, the bankrupt owner of the Colorado Springs Gazette, has won court approval of a reorganization plan. Judge Brendan Shannon of the U.S. bankruptcy court in Wilmington, Delaware approved the plan that had been crafted by attorneys for and its secured and unsecured creditors. The plan represented a significant victory for the unsecured creditors,… Continue Reading Gazette owner to exit bankruptcy

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Freedom has buyer for Arizona newspapers

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Freedom Communications asked a bankruptcy judge Tuesday to approve the sale of the East Valley Tribune and several other Phoenix-area publications for about $2 million. Irvine, Calif.-based Freedom Communications Holdings Inc. put the Tribune up for sale shortly after it filed for bankruptcy protection in September. The company said it planned to close the paper… Continue Reading Freedom has buyer for Arizona newspapers

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Company reports more than $1 billion in debt Freedom Communications Inc., owner of more than 30 daily newspapers including The Gazette, filed for Chapter 11 bankruptcy protection in U. S. Bankruptcy Court in Wilmington, Del., this morning. According to Bloomberg News, the company said that it has assets of between $500 million and $1 billion, eclipsed… Continue Reading Freedom bankruptcy official

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The Wall Street Journal reported yesterday that Freedom Communications, parent company of the Colorado Springs Gazette and more than 100 other media properties, will file for bankruptcy this week.

The WSJ said that the chain would be taken over by the banks that hold the company’s debt and that present equity holders would be wiped out.

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Freedom CEO: Bankruptcy possible

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In an interview with the Orange County Register published earlier this week, Burl Osborne, the interim CEO of Freedom Communications, said that the company is in discussions with its bankers about “restructuring.”

Freedom, which owns dozens of media properties, including the Register and the Colorado Springs Gazette, is more than $700 million in debt.

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Freedom names replacement CEO

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Freedom Communications has named Burl Osborne, former publisher of The Dallas Morning News and former chairman of the board of The Associated Press, as its new CEO. He will take over next month for Scott Flanders, who left the job to take the helm at Playboy Enterprises. Osborne has served on Freedom’s board as an independent… Continue Reading Freedom names replacement CEO

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