Boston Herald Cleared For $12M Ch. 11 Sale To MediaNews
Law360 (February 16, 2018, 5:07 PM EST) -- The Boston Herald on Friday secured court approval for the tabloid's $11.98 million sale to hedge fund-controlled MediaNews Group, under a business-saving deal expected to close by March 28.
Judge Laurie Selber Silverstein signed the sale order after a handful of last-minute changes to wording and terms. A few issues remain before closing, however, including arrangements with the paper's labor unions and a contract with its current Seaport District landlord.
MediaNews, part of a media chain managed by Alden Global Capital's Digital First Media, reported plans to offer jobs to 175 of the company's 240 current employees, although only after a...
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