Newspaper Company Files for Bankruptcy, No Service Interruption
A company which owns several newspapers throughout the state of Missouri, including some in the Lake area, files for bankruptcy protection. Gatehouse Media, Inc. owns the Lake Sun Leader, the West Side Star and other free weekly papers in the area. Gatehouse CEO Michael Reed told employees in a memo that this is being done to position them for future growth. He also says that there will be no change in the day to day operations of the company. The Chapter 11 bankruptcy plan would restructure about one point two billion dollars in debt that is due in August of 2014. Gatehouse publishes about 100 daily and 200 weekly newspapers in 20 states.