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New York Post Owner Seeks Bankruptcy Protection

Magazine article Editor & Publisher

New York Post Owner Seeks Bankruptcy Protection

Article excerpt

New York Post owner seeks bankruptcy protection

New York Post owner Peter S. Kalikow, whose personal and business debts run into hundreds of millions of dollars, filed for protection from creditors under Chapter 11 of federal bankruptcy codes.

Also Aug. 21, Kalikow assured Post staffers the filing would not affect the paper. He said the Post has been profitable since workers at the competing tabloid New York Daily News began a five-month strike last October. He said he had no plans to sell or close it.

In a statement released by a public relations firm, Kalikow said the Post, his office buildings, a hotel, his restaurant and food service businesses and most of his residential buildings were not included in the bankruptcy filing.

However the Post, some apartment buildings, an $8.5 million yacht, $6 million Long Island home, $3.5 million New York apartment and $7 million car collection were listed as assets in his personal bankruptcy filing. …

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