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Economy and Business


Journal Register Co. bankruptcy leaves newspaper jobs uncertain
News company to close sale of two papers April 17, leaving 217 employees in danger of potential job loss
by WKSU's AMY COOKNICK

Reporter
Amy Cooknick
 
In The Region:

A newspaper chain that serves two northeast cities may shift from print to online as part of its bankruptcy restructuring.

The Journal Register Co. owns the News-Herald in Willoughby and the Morning Journal in Lorain.

The company filed for bankruptcy in September for the second time in three years. This week, it announced the sale and that it will lay off more than 200 employees at the two papers.

The new owner, an affiliate of the New York-based hedge fund Alden Global Capital, is expected to rehire some of those reporters, editors and designers.

But Dennis Hetzel, executive director of the Ohio Newspaper Association, says the sale means uncertainty for the papers.  

Dennis Hetzel on the state of local newspapers

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“My understanding of this is that it’s a very complicated legal process that the Journal Register Co. is going through and my hope is that when the dust settles these two newspapers will continue to publish and serve their communities.”

The entity purchasing the two Ohio papers is known as 21st CMH Acquisition Co. It's paying about $120 million for the chain, which includes 18 media properties -- including 10 newspapers -- in 10 states. 

Journal Register will cease operations in April.  

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