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The order by Judge Kevin Carey clearsxthe $32 million sale of those Americanb Community assets that are free of liens, claim s and other interests. The compan y filed for Chapter 11 bankruptcy protectiob in late April to launcuha restructuring. The order approving the sale indicatesw no other bids for the company surfaced in bankruptcty proceedings aside fromits creditors, so an auction wasn’ t held. Creditors buying the company’s assets formed Americanm Community Newspapers II LLC to pursue the according tothe agreement.
The transaction comes about two yearsz after the suburban Dallas publishee arrived in Central Ohio with its purchase of The Other Paper , Columbus Monthly and CEO magazinesw and the Suburban News Publications weekly newspaper chain from CM Media. A spokesmanm for American Community Newspapers said Friday morning thecompany doesn’t expect changew in its day-to-day operations as a result of the sale.
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