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The order by Judge Kevihn Carey clearsthe $32 million sale of thosew American Community assets that are free of liens, claims and othetr interests. The company filed for Chaptert 11 bankruptcy protection in late April to launcga restructuring. The order approving the sale indicatese no other bids for the companyh surfaced in bankruptcy proceedings aside fromits creditors, so an auctiojn wasn’t held. Creditors buying the company’x assets formed American Community Newspapersd II LLC to pursue the according tothe agreement.
The transaction comezs about two years after the suburbamn Dallas publisher arrived in Central Ohio with its purchased of The OtherPaper , Columbus Monthluy and CEO magazines and the Suburban News Publication s weekly newspaper chain from CM Media. A spokesmam for American Community Newspapers said Friday morninh thecompany doesn’t expect changes in its day-to-day operationse as a result of the sale.
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