Journal Register Co., bankrupt publisher of newspapers in Oakland and Macomb, got a New York judge's OK to sell its properties to an affiliate of its current owner, Erik Larson reports for Bloomberg news service.
U.S. Bankruptcy Judge Stuart Bernstein in New York on Thursday overruled a union, part of the Communication Workers of America, that had objected to the deal. . .
“In light of fact that the transaction will not close until after the termination of the collective bargaining agreements, the court overrules the unions’ objection,” Bernstein said in his written ruling. The union contract expires on March 31.
Locally, the Newspaper Guild and Teamsters also object to the transaction due to take effect April 17 and urge a boycott of the papers by subscribers and advertisers. They represent workers at the Oakland Press, Macomb Daily and Royal Oak Daily Tribune who've been notified that they'll be laid off as part of the sale. Journal Register also publishes The Morning Sun in Mt. Pleasant, Mich.
The buyer, 21st CMH Acquisition Corp, is an affiliate of funds managed by Alden Global Capital Ltd., which acquired Journal Register in a 2009 bankruptcy sale.
