White House should release loan documents

The House Energy and Commerce Committee has subpoenaed White House communications concerning the half-billion-dollar federal loan guarantee for failed California solar company Solyndra, which also is under criminal investigation and has ties to a major campaign donor to President Barack Obama. We have yet to hear a good reason for the White House’s reluctance to […]

Wheatfields managers say facility should open by end of year

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CNJ staff photo: Tony Bullocks A banner at the Wheatfields assisted living and memory care community Monday advertises that it will be opening soon. Wheatfields is scheduled to open sometime this summer. Sharna Johnson After almost three years tangled up in bankruptcy and foreclosure, managers of the once-deserted Wheatfields Senior Living Community expect the facility […]

Give states option to file for bankruptcy

Freedom New Mexico With persistent deficits, soaring pension obligations and mounting bond debts, states like California could well benefit from the ability to restructure their finances through a bankruptcy procedure. Bankruptcy allows the debtor to work through an orderly and equitable settlement of obligations. The idea has been gaining traction, with support from former House […]

Freedom emerges from bankruptcy

CNJ staff By Mary Ann Milbourn Freedom News Service IRVINE, Calif. — Freedom Communications Inc., parent company of the Clovis News Journal, Portales News-Tribune and Quay County Sun, announced Friday it has emerged from bankruptcy reorganization. The emergence from Chapter 11 bankruptcy relieves Freedom of $450 million in debt, but it brings an end to […]

Freedom to emerge from bankruptcy by end of March

Freedom Communications Freedom Communications Inc., parent company of the Clovis News Journal, Portales News-Tribune and Quay County Sun, should emerge from bankruptcy by the end of March, according to the company’s top executives. Interim Chief Executive Burl Osborne and Chief Financial Officer Mark McEachen said that while some change in the company’s newspapers, magazines and […]

North Plains Mall corporate owner reaches bankruptcy deal

The Associated Press LOS ANGELES — The nation’s second-largest shopping mall operator General Growth Properties Inc. said Wednesday it reached a deal with Canada’s Brookfield Asset Management Inc. that will speed its exit from Chapter 11 bankruptcy protection. General Growth is the corporate owner of North Plains Mall in Clovis. Speculation raged for weeks that […]

Freedom strikes deal for Arizona paper sale

Freedom New Mexico Freedom Communications filed a motion Tuesday with the U.S. Bankruptcy Court in Delaware seeking approval of the sale of its Phoenix-area publications to 1013 Communications LLC, an affiliate of Thirteenth Street Media. In a statement, Freedom said company officials hope a hearing will be held in early March and that the transaction […]

Freedom, creditors reach bankruptcy deal

By Dena Bunis WILMINGTON, Del. — A federal bankruptcy court judge Thursday approved a deal between Freedom Communications, its unsecured creditors and its lenders that could allow the company to emerge from bankruptcy by the end of March. Freedom properties include the Clovis News Journal, Portales News-Tribune and Quay County Sun in Tucumcari. The arduously […]

East Valley Tribune may have buyer

Freedom Communications Freedom Communications has received a letter of intent to purchase the East Valley Tribune in Mesa, Ariz., and keep the Pulitzer-Prize winning newspaper and Web site operating, Publisher Julie Moreno said Friday. Freedom, which is operating under Chapter 11 of the Federal Bankruptcy Code, will seek approval from the bankruptcy judge to complete […]

Freedom files Chapter 11

Sharna Johnson: CNJ Staff Writer Freedom Communications, parent company of Freedom New Mexico, filed a petition for Chapter 11 bankruptcy Tuesday but said operations aren’t expected to change. The filing was done, “along with a plan-support agreement executed by a steering committee of (Freedom’s) lenders,” according to a company press release. “(The company) has sufficient […]