Affiliated Media Lenders Greenlight Prepack Ch. 11

Law360, New York (January 19, 2010, 4:44 PM EST) -- The holding company for MediaNews Group, the U.S.’ second-largest newspaper chain by circulation, has received approval from its senior lenders to file a prepackaged Chapter 11 plan that would sharply reduce its debt by providing for debt-for-equity swaps.

Affiliated Media Inc. announced Friday that it will file a prepackaged Chapter 11 plan "in the near future," saying that the reorganization won’t impact any of the more than 154 newspapers or other media outlets owned by MediaNews.

According to Affiliated Media, the senior lenders have approved a...
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