Marty Petty, the former publisher of the St. Petersburg Times and the Hartford Courant, was named this morning chief executive officer of the Creative Loafing chain of alt-weeklies.
Petty's hiring comes at a time of transition for the Creative Loafing papers. In late August, a bankruptcy proceeding forced an ownership change in the chain, taking [...]
UPDATE 1628:Chicago Reader enters Atalaya Era after Creative Loafing loses its last bid in bankruptcy court (Chicago Reader)
UPDATE 1535: Creative Loafing chain sold to biggest creditor for $5 million (Atlanta Journal-Constitution)
UPDATE 1459: Washington City Paper Now Owned by Atalaya Capital (DCist)
Atalaya outbids Eason, assumes control of Creative Loafing (Creative Loafing Tampa)
UPDATE 1332: Hedge Fund Atalaya [...]
Our wacky company. Jesus, our wacky company. Today was the day a judge in Florida was due to decide how best to conduct an equity auction next month that'll presumably end our company's nearly yearlong journey through bankruptcy. She kind of punted.
But: Talk about burying the lede! Following the ruling, Creative Loafing CEO Ben Eason [...]
In this morning's Washington Post, columnist Steven Pearlstein tries to make the case that buying up a bunch of newspapers could be a fantastic business decision. Pearlstein's piece comes in the format of a letter to Berkshire Hathaway's Warren E. Buffett, who is bearish these days on newspapers. The longtime investment guru sees them as [...]
A federal judge in Tampa has just ruled in favor of Creative Loafing Inc. CEO Ben Eason in a bankruptcy struggle with the company's main creditor, Atalaya Capital Management. Holder of $31 million in Creative Loafing debt, Atalaya was seeking to gain control of the company. The court denied Atalaya's motions and directed the two [...]
Last Monday, Creative Loafing, the company that owns Washington City Paper and five other papers, announced that it had filed for Chapter 11 bankruptcy. At the time, Creative Loafing CEO Ben Eason said, Chapter 11 was a "natural place for the Company to go to accomplish an orderly reorganization of our finances."
This move was occasioned [...]
* Headline of Politico's VP debate preview makes me giggle. Plus: We watch for the crashes:
With all their potential for pitfalls and insta-classic moments, the pair has made the build up to the showdown, to take place here Thursday night at Washington University, feel more like a NASCAR race than a serious political forum: the [...]
