Freedom Becomes Latest Newspaper Co. In Ch. 11

Law360, New York (September 1, 2009, 6:05 PM EDT) -- Southern California news publisher Freedom Communications Holdings Inc. and 49 subsidiaries filed for Chapter 11 protection Tuesday, saying Freedom had reached a deal with its lenders to restructure its more than $1 billion in debt.

The Irvine, Calif.-based publisher of the Orange County Register and a slew of other newspapers and TV stations around the country lodged its petition in the U.S. Bankruptcy Court for the District of Delaware, listing assets between $500 million and $1 billion.

The company said it had enough money to cover...
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