Alt. Weeklies Live to Fight (Print) Another Day

urlFor those Chicagoans who turn to the Chicago Reader for everything from job listings, sex advice, political investigations and music listings, check out this article from the Chicago Tribune about the Reader’s interim future. For those who don’t know, the Chicago Reader has been going through a bit of turmoil with the whole crumbling newspaper industry and such. The paper was sold a while back to Creative Loafing Inc., a Tampa-based company that publishes other alternative weeklies in the Southeast U.S. Well, the purchase apparently got Creative Loafing into a great deal of debt which it hasn’t been able to crawl out of forcing the company to file bankruptcy. As a result, the five alt. weeklies which Creative Loafing operated, including the Reader were put up for sale at a bankruptcy auction and a New York hedge fund, Atalaya Capital Management recently won. The group said it intends to continue publishing the Reader and someone from the hedge fund was actually quoted as saying “things can always change up.” Well there’s some hope…

You may also like...