DBJ: MediaNews Group parent emerges from Chapter 11

The holding company for Denver’s MediaNews Group Inc. — publisher of The Denver Post and more than 50 other U.S. daily newspapers — said Friday it has emerged from Chapter 11 bankruptcy protection.

The holding company, Affiliated Media Inc., was under Chapter 11 protection less than two months. It filed Jan. 22 with the U.S. Bankruptcy Court in Delaware.

On March 4, Bankruptcy Judge Kevin Carey approved the company’s “pre-packaged” reorganization plan, which its major creditors had signed off on in advance.

The plan allows Affiliated to greatly reduce its debt from $930 million to $165 million in debt in exchange for equity in the company, while leaving CEO William Dean Singleton and President Joseph “Jody” Lodovic IV in control of Affiliated/MediaNews management.

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