With a prepackaged bankruptcy plan to reduce its debt from $930 to $165 million, the holding company for the MediaNews Group is reportedly filing for Chapter 11 by the end of the week.
MediaNews, which owns 54 dailies as well as radio and television properties, is the publisher of the Denver Post and the San Jose Mercury News.
According to the WSJ, the expected bankruptcy would be the 7th in the newspaper industry during the past year – among them, Tribune Co., Freedom Communications and Journal Register Co.