Left In Lowell

Thanks to Paul for the tip.

According to the Wall Street Journal, the Sun’s parent company , Medianews Group, filed for bankruptcy;

MediaNews Chairman and Chief Executive William Dean Singleton and company president Joseph Lodovic IV will control the restructured company through a special class of stock.

MediaNews has been teetering for months, presenting a challenge to Mr. Singleton, a newspaper-industry veteran known as something of an iconoclast. Mr. Singleton’s ability to retain control over MediaNews represents a face-saving victory in the company’s restructuring, and on Friday Mr. Singleton said he wanted to try to be the aggressor in merging newspapers.

Bankruptcies often result in board and management changes. Mr. Singleton, like many corporate executives, was sensitive to any negative fallout from a bankruptcy filing, according to people close to him.

How this will impact the local paper? Hopefully, the rumors that have spread around the City about potential local owners buying the Sun are somewhat true.