By: Digital First Media
New York, NY (November 30, 2012) – Digital First Media, which operates MediaNews Group, Journal Register Company and Digital First Ventures, today announced Journal Register Company has signed a “stalking horse” purchase agreement with 21st CMH Acquisition Co., an affiliate of funds managed by Alden Global Capital LLC.
“This agreement allows the formal commencement of the sale process and is a big step toward creating a new and viable company,” said John Paton, Chief Executive Officer of Digital First Media.
The asset purchase agreement was filed in U.S. Bankruptcy Court for the Southern District of New York, which will review the contract as well as bid procedures. The Court will then initiate the sales process, including a public auction.