Boston Herald, Inc. Files Chapter 11

• Debtor Name:  Boston Herald, Inc.
• Year Filed:  2017
• Jurisdiction:  United States Bankruptcy Court / District of Delaware
• Asset Size:  10,000,000 to 100,000,000
• Case Number:  17-12883
• Industry:  Media

FREEDOM FILMS, LLC Files Chapter 11

 

• Debtor Name:  FREEDOM FILMS, LLC
• Year Filed:  2014
• Jurisdiction:  United States Bankruptcy Court / Central District of California
• Asset Size:  Less than 10,000,000
• Case Number:  14-12002
• Industry:  Entertainment/Recreation, Media

Freedom Films, LLC is headquartered in Sherman Oaks, California. They develop and produce independently financed motion pictures.

The largest unsecured creditors are listed as Palo Verde Fund, LP ($4.25 million), Brian Presley ($2.8 million) and David Presley ($13.4 million).  Both Presleys are listed as 50% equity security holders of the Debtor.

Chapter 11 Alert: GateHouse Media, Inc.

GateHouse Media, Inc. and numerous affiliates filed for Chapter 11 today at the United States Bankruptcy Court in Wilmington, Delaware.  The Fairport, New York-based publisher's Chapter 11 Petition lists approximately $434 million in assets and $1.28 million in debts.

According to the Debtors' Declaration, the Debtors operate in 21 states with core products including 78 daily newspapers, 235 weekly newspapers, 91 shoppers, 343 locally focused websites, 313 mobile sites and six yellow page directories.  Revenues in 2012 were approximately $491 million.  The Debtors employ 4361 people. GateHouse Media, Inc. attributes the Chapter 11 filing to the global economic recession and "the increasing competition from the internet as a news source and advertising medium".

According to the Debtors'  Plan of Reorganization, equity holders of GateHouse Media will have their equity interests cancelled and receive their pro rata share of New Media Warrants.

The Debtors intend to retain Houlihan Lokey Capital, Inc as financial advisor and Young Conaway Stargatt & Taylor, LLP as counsel.

CARIBBEAN INTERNATIONAL NEWS CORPORATION Files For Chapter 11

• Debtor Name:  CARIBBEAN INTERNATIONAL NEWS CORPORATION
• Year Filed:  2013
• Jurisdiction:  United States Bankruptcy Court / Puerto Rico
• Asset Size:  Less than 10,000,000
• Case Number:  13-07759
• Industry:  Media

The San Juan, PR-based news organization lists approximately $91 million in liabilities.