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Morris Publishing Hires Bankruptcy Specialists

Magazine article Editor & Publisher

Morris Publishing Hires Bankruptcy Specialists

Article excerpt

Morris Publishing Group -- struggling under debt and approaching a deadline to sell enough assets to pre-pay its loans -- said Thursday it had retained as financial adviser Lazard Freres & Co. LLC, the same firm that advised Tribune Co. as it filed for Chapter 11 bankruptcy protection.

In a terse press release, Morris announced the hiring as well of Neal, Gerbert & Eisenberg LLP, a law firm with a well-regarded bankruptcy practice.

"These firms will assist us in evaluating our strategic options regarding Morris Publishing's existing capital structure," Morris Publishing Chairman William S. Morris III said in a statement.

Reached at Morris Communications Co.'s Augusta, Ga., headquarters, Craig S. Mitchell, senior vice president of finance, said the company was not commenting beyond the press release.

The parent of 13 dailies, including the Augusta Chronicle and The Florida Times-Union in Jacksonville, family-owned Morris last fall negotiated a change in its credit agreements with its lenders. …

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