A scheduled auction of the company's assets
was canceled, as there was one bid.
A federal bankruptcy judge would have to
approve the bid. A hearing on that is set for May 22 in Reading
Denver-based MediaNews Group owns 97
publications around the U.S.
The Reading Eagle Company filed for bankruptcy
protection under Chapter 11 on March 20.
Family-owned Reading Eagle Company includes
the Reading Eagle, WEEU 830 AM, the weekly South Schuylkill News, Pretzel City
Productions and its commercial printing subsidiary REP. The company has a staff
of 234.
Company President and CEO Peter D. Barbey
praised employees for "their dedication and professionalism during this
stressful time and for maintaining the standards that our readers have come to
expect."
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