A rare instance of good news on the newspapers-are-dying front: The parent company of the New Haven Register, the Journal Register Co., has emerged from Chapter 11 bankruptcy protection.
The Journal Register Co. — a conglomerate of small daily newspapers, of which the Register is the largest, and scores of weekly newspapers — filed for bankruptcy in February. That meant Connecticut’s two most prominent newspapers, the Register and the Tribune-owned Hartford Courant, were both operating under bankruptcy protection.
The Register’s parent was able to emerge from bankruptcy relatively quickly because, before it filed for Chapter 11, it had struck a deal to cancel its stock (which was trading for half a penny a share) and become a private company controlled by its lenders, according to The Associated Press.
Of course, this does not change the fact that the Register has been mercilessly gutted over the past few years as its (evil?) corporate parent tried to stay afloat. But a gutted newspaper is better than no newspaper at all.
(Photo: Paul Ramirez/Contributing Photographer)