Friday, October 24, 2014

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Rochester

GateHouse Media Files For Chapter 11

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GateHouse Media, one of the largest publishers of locally-based print and online media in the United States, has filed for Chapter 11 bankruptcy.

The company, which is based in Fairport, announced Sept 11 that it had entered into an agreement with some secured lenders to restructure $1.2 billion of debt.

GateHouse CEO Michael Reed said the company would emerge with less debt on its balance sheet, but with business operations completely intact.

GateHouse operates numerous papers in the Rochester area, including the Messenger-Post papers, and across Western New York, such as the Wellsville Daily Reporter and Allegany County Pennysaver.

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