This is the owner of the Rockford Register Star
Since coming together in the middle of the last decade, GateHouse Media has been struggling with $1.2 billion in debt that it took on to assemble a chain of more than 300 community newspapers….
A year ago, Jack Sullivan, also in CommonWealth, found GateHouse was warning shareholders that bankruptcy was an option, even as the company was paying out $1.4 million in bonuses to top executives
According to Emily Glazer and Mark Spector of the Wall Street Journal, GateHouse appears likely to undergo a “prepackaged bankruptcy” with the cooperation of its creditors in the hopes of emerging from the proceedings debt-free.
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