Affiliated Media Seeks Prepack Plan Blessing

Law360, New York (March 3, 2010, 1:05 PM EST) -- Affiliated Media Inc. has asked a bankruptcy court to sign off on a prepackaged reorganization plan that aims to reduce the company's debt by providing for debt-for-equity swaps, despite mounting objections in recent days over the terms of the plan.

In a filing Tuesday in the U.S. Bankruptcy Court for the District of Delaware, Affiliated Media — which is the holding company for MediaNews Group, the U.S.’ second-largest newspaper chain by circulation — said its plan will allow it to slash its approximately $930 million in...
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