Journal Register, wounded, draws investor
Ohio investor wants to bail out Journal Register Co., Yardley, which owns the Delaware County Daily Times, West Chester's Daily Local News, Norristown Times-Herald, Pottstown Mercury, Trentonian and other local papers, as parent company rusn low on funds.
Journal Register Co., Yardley, the famously frugal company that owns the Delaware County Daily Times, West Chester's Daily Local News, Norristown Times-Herald, Pottstown Mercury, Trentonian and other local papers, is running low on funds as advertising revenue falls. Thomson story here.
Cleveland activist investor Richard Barone, of Ancora Capital, has bought more than 5 percent of Journal Register Co. and want to buy more, according to this filing with the Securities and Exchange Commission. Filing here.
Barone wants to invest $25 million in Journal Register and restructure its crushing debt, says Reuters. Story here. Former Journal Register Publisher of the Year Kevin Walsh, who ran the company's biggest paper, the New Haven Register, quit last week to work for Yale's hospital. Story here.