Alt Weekly Chain Creative Loafing Sold To Creditor For $5 Million
Creative Loafing, the second largest alt-weekly chain in the country, has been sold to hedge fund (and creditor) Atalaya Capital Management…
Tribune Memo: No Liquidation, But Ownership Structure ‘Likely To Change’
The bankrupt Tribune Company’s assets will not be liquidated, COO Randy Michaels said in a memo (via Romensko), but he did appear to confirm…
Report: Digital Ad Spend Will Grow, But Overall Market Will Shrink
Blast those cheapo web banners! Digital and mobile media will take a whopping 78 percent of global entertainment and media ad spend by 2013,…
Ericsson Pays $1.13 Billion To Win Nortel Assets At Auction
Ericsson (NSDQ: ERIC), the largest wireless infrastructure company in the world, has agreed to pay $1.13 billion in cash to acquire parts of…
RIM’s Interest In Nortel’s Assets Mystifies Investors; Probably Should Scare Competitors
Research In Motion investors are trying to make sense of the BlackBerry-maker’s interest in buying Nortel Networks’ wireless-infrastructure…
Even In Bankruptcy, Tribune Makes Money But Margins Keep Slipping
Since filing for Chapter 11 bankruptcy protection in December, The Tribune Company has been burning through cash and though still profitable…
Updated: Tribune Close To Chicago Cubs To Ricketts Family For Nearly $900 Million
Updated: -It’s not over ’til it’s over, as the Chicago Sun-Times is saying a contract is close, but it’s nothing has been signed and sealed…
Star-Tribune Plans To Emerge From Bankruptcy By Fall; Publisher Harte To Step Down
The Minneapolis Star-Tribune, which filed for bankruptcy in January, expects to exit from Chapter 11 by the fall, the paper reported (via Re…
Zell Could Wind Up Out At Tribune Under Debt Reorg
Loss of control is almost always a risk when debt is reorganized and Tribune Co.’s trip to bankruptcy court could cost Sam Zell just that. A…
Psystar Files for Chapter 11: Apparently, Drawn-Out Legal Battles With Apple Aren’t Lucrative
Psystar, the company that drew attention to itself first by offering Apple (s aapl) clones for sale with OS X pre-installed, and then by facing off against the Cupertino, Calif.-based computer maker in court, is officially filing for Chapter 11 bankruptcy, according to The Mac Observer. For those keen on the subtle distinctions of having no money, Chapter 11 is the one where you still have to pay off some of your debt, whereas Chapter 13 is the really, really bankrupt, clean slate kind of broke.
The clone maker claims that its financial troubles aren’t due to the Apple legal battle, which is still unresolved, but instead the weak economy and supplier prices. Even if that’s true, it doesn’t really paint the Mac cloning game as a very appealing one for others watching the space. Some think the bankruptcy is related to financial backers finally pulling their support out from under the beleaguered company, which doesn’t look to be in a position to become profitable anytime in the near future, even if demand was higher for its products. Read More about Psystar Files for Chapter 11: Apparently, Drawn-Out Legal Battles With Apple Aren’t Lucrative