• Denver Business Journal, Monday, March 8, 2010 12:12 AM

A U.S. Bankruptcy Court judge Thursday approved the reorganization plan of the holding company of Denver's MediaNews Group which will allow Affiliated Media Inc., parent of MediaNews, to emerge from Chapter 11 protection in about two weeks.

Affiliated filed under Chapter 11 on Jan. 22 and submitted a plan already approved by major creditors, allowing it to greatly reduce its debt from $930 million to $165 million in debt in exchange for equity in the company, while leaving William Dean Singleton and president Joseph "Jody" Lodovic IV in control of the Affiliated/MediaNews management. The major lenders -- including Bank of America and Wells Fargo -- will wind up with 89% of the reorganized company's common stock. Operations of The Denver Post and other newspapers would be unaffected, the company said.

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