Biz Paper Owner Files for Bankruptcy Court Protection

Last Updated on Thursday, 06 May 2010 03:03 Thursday, 06 May 2010 03:03

News on News Brown Publishing Co., the Ohio-based parent of a handful of business newspapers from across the country, has filed for bankruptcy court protection and plans to sell its assets to a bidder.

The company owns Des Moines Business Record in Iowa, the Fort Worth Business Press in Texas and the Boulder County Business Report in Colorado and a majority ownership of the Northern Colorado Business Report in Fort Collins, and the Wyoming Business Report in Cheyenne. It also owns the Charleston Regional Business Journal, the Columbia Regional Business Report, SC Biz and GSA Business, all in South Carolina. It also owns Utah Business magazine.

An AP story states, “The Cincinnati-based, family-owned companies filed Friday in the U.S. Bankruptcy Court for the Eastern District of New York. They say the unnamed bidder will assume most liabilities.

“The sale involves all the companies’ assets in Ohio, New York, Texas, South Carolina, Illinois, Iowa, Colorado, Utah, Arizona and Wyoming. The companies operate 18 daily newspapers, 27 weekly newspapers and other publications in those states.

“Chief Executive Roy Brown says the decision was made to help ensure the businesses are ‘best positioned to prosper in the years ahead.’”