Business & Tech
Free Lance-Star Plans Auction Under Chapter 11
Bankruptcy judge approved continued operations of the company's newspaper, radio and printing businesses.
U.S. Bankruptcy Court Judge Kevin R. Huennekens on Friday approved motions enabling the Free Lance-Star Publishing Co. to continue operations while pursuing sale of the company, which filed a Chapter 11 bankruptcy petition Thursday.
"Also Friday, Lynn Tavenner, a Richmond lawyer who is representing Free Lance-Star Publishing, said the company filed documents to set in motion a court-monitored auction of the company," the Richmond Times-Dispatch reported.
Another hearing is scheduled in Richmond on Feb. 27, followed by a meeting of creditors the next day.
In addition to The Free Lance-Star newspaper, the company's assets include Fredericksburg.com, Freelancestar.com, WFLS, WYSK, WWUZ and WNTX. It also owns real estate and other digital operations.
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