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...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.