Getting your player ready...
Affiliated Media Inc., the holding company for newspaper publisher ap, filed its plan to restructure its debt Friday in a Delaware court.
The restructuring will allow the company to swap debt for equity and be implemented through a prepackaged Chapter 11 bankruptcy. The plan will cut Affiliated’s debt from $930 million to $165 million.
ap, the nation’s second-largest newspaper publisher, is the parent company of The Denver Post and Boulder Daily Camera, 52 other daily newspapers, and more than 100 non-daily papers in 12 states.
Affiliated Media expects to be able to complete the debt restructuring in as little as a month’s time because of prearranged agreements with its lenders.
