Bankruptcy judge to approve sale of Reading Eagle

2 years 4 weeks 2 days ago Wednesday, May 22 2019 May 22, 2019 May 22, 2019 10:11 AM May 22, 2019 in News - AP National

Associated Press

READING, Pa. (AP) - A federal judge says he intends to approve the sale of the Reading Eagle to a company known for taking over struggling newspapers and then cutting jobs.

MediaNews Group, better known as Digital First Media, offered $5 million for the assets of the Reading Eagle Co., which filed for bankruptcy protection in March.

Judge Richard Fehling said Wednesday he plans to sign off on the sale.

Digital First is controlled by a New York hedge fund and owns about 200 papers and other publications. It's known for deep cost-cutting.

The family-owned Reading Eagle began publishing in 1868. The company's other properties include news-talk radio station WEEU and a weekly newspaper. It has more than 200 employees.

Digital First says it plans to take WEEU off the air unless someone buys its FCC license.

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