Journal Register asset sale cleared by court

03/24/2013 | Bloomberg

A bankruptcy court has overruled a union's objection and is allowing Journal Register Co. to sell its assets to the 21st CMH Acquisition Corp. affiliate of the newspaper company's current owner, Alden Global Capital. The sale agreement for Journal Register, which is going through bankruptcy a second time, includes severance for employees who lose their jobs as a result of the deal and assumption of liabilities totaling $22.8 million.

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