SANTA ANA, Calif. (AP) – Freedom Communications Inc., owner of the Orange County Register, has filed for bankruptcy, and the newspaper’s publisher said he plans to lead a bid to purchase the troubled company.
Freedom filed for Chapter 11 bankruptcy protection in U.S. Bankruptcy Court’s Central District of California, the Santa Ana, California-based Register reported Sunday (http://bit.ly/1HlrF1M ).
Rich Mirman, Freedom’s chief executive and publisher, and other local investors plan to reorganize the company’s finances and assume ownership.
Mirman said he expects the bankruptcy case to have no impact on day-to-day operations. Staffing will remain steady and payments to employees, key vendors and partners will continue, he said.
“We’re turning the page and starting a new chapter,” Mirman said. “We’ve gone through a few rocky years and we need to redefine ourselves.”