Journal Register looks to sell Lapper, Mich., paper for $1.44 million

By Jennifer Lanning Drey

Portland, Ore., May 11 - Journal Register Co. requested court approval of the proposed $1.44 million sale of its newspaper operations in Lapeer, Mich., according to a Monday filing with the U.S. Bankruptcy Court for the Southern District of New York.

The proposed purchaser is JAMS Media, LLC.

The sale price includes $1 million in cash plus the assumption of liabilities estimated at $437,000, according to the filing.

Journal Register said the Lapeer assets are not profitable nor are they integral to its restructuring efforts.

The company asked that an auction not be required, as the assets have already been marketed to 25 parties that expressed an interest in the assets, which yielded no indications of interest for the entire property.

A hearing has been scheduled for May 29.

Journal Register, a Yardley, Pa.-based publisher of daily newspapers and non-daily publications in print and online, filed for bankruptcy on Feb. 21. Its Chapter 11 case number is 09-10769.

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