Freedom May Be Next Newspaper Co. To Enter Ch. 11

Law360, New York (August 31, 2009, 4:42 PM EDT) -- In the latest blow to a foundering newspaper industry, the Southern California news publisher Freedom Communications Inc. is reportedly expected to declare bankruptcy this week.

The Wall Street Journal reported the news Monday. The Irvine, Calif.-based publisher of the Orange County Register has not yet announced any intention to file for Chapter 11 bankruptcy protection.

“We are still in discussions with our lenders to address our balance sheet,” Freedom spokesman Bob Emmers said Monday.

But the company has made agreements with its lenders to restructure approximately...
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