Daily News: June 4, 2013

SSG Advises Journal Register Sale to Alden Global Affiliate

SSG Capital Advisors acted as the exclusive investment banker and financial advisor to Journal Register Company (JRC) in the sale of substantially all of its assets to an affiliate of Alden Global Capital. The §363 sale was approved by the Bankruptcy Court in March 2013 and closed in April 2013.

JRC is an online and print provider of local news, sports, business and lifestyle information. It owns and operates 145 newspapers, 237 individual websites, 38 smartphone and digital applications and 19 mobile sites.

JRC transitioned its business model from a predominantly print platform to a “Digital First” platform, which has allowed JRC to grow into a multi-regional, multi-platform, media company.

Alden Global Capital is an investment manager focusing on investments in U.S. and foreign distressed securities as well as emerging market economies.

Other professionals who worked on the transaction include:

  • Neil Herman, James Garrity, Steven Navarro, Matthew Furlong, Jonathan Fritts, J. J. Broderick, Brian Dougherty, Emmeline Liu, Rachel Mauceri, Edward Stone, Patrick Fleming and Matthew McNamara of Morgan, Lewis & Bockius, counsel to JRC;

  • Michael Nestor, Robert Brady, Kenneth Enos and Andrew Magaziner of Young Conaway Stargatt & Taylor, counsel to JRC;

  • Lisa Beckerman, David D’Urso, Arik Preis, Arun Kurichety, Howard Jacobson, Lawrence Levien, Lauren Helen Leyden, Timothy Clark and Anastasia Kerdock of Akin Gump Strauss Hauer & Feld LLP, counsel to Alden Global;

  • Bradley Scher of Ocean Ridge Capital Advisors, independent director to JRC;

  • William Stickney and Meghan Jodz of Grant Thornton, audit and tax advisor to JRC;

  • Jonathan Helfat and James Cretella of Otterbourg, Steindler, Houston and Rosen, counsel to DIP lender;

  • Edward Zujkowski and Michele Ross of Emmet, Marvin & Martin, counsel to Journal Register Company senior term loans’ agent;

  • Gerald Bender, Terence Watson, Richard Corbi and Michael Savetsky of Lowenstein Sandler PC, counsel to the Unsecured Creditors’ Committee; and

  • Samuel Star, Christopher Nicholls, Steven Joffe, Christopher Hamilton and Kenneth Cowan of FTI Consulting, financial advisors to the Unsecured Creditors’ Committee.

    Previously on abfjournal.com:

    Bankruptcy Court Approves Journal Register Sale, Friday, March 29, 2013