Star Tribune Tries To Ditch Direct-Mail Assets

Law360, New York (March 25, 2009, 12:00 AM EDT) -- Concluding that its direct-mail advertising business makes little or no profit, Star Tribune Co. has asked a bankruptcy court for permission to transfer those assets to a direct-mail company in exchange for a share of future revenues from the Tribune's former clients.

The cash-strapped newspaper publisher on Tuesday filed a motion in the U.S. Bankruptcy Court for the Southern District of New York for approval of a transition agreement for the sale of its direct-mail assets to Impact Mailing of MN Inc.

The agreement requires Impact...
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