Local newspaper company files for bankruptcy

Broad Street Media, which publishs Philadelphia Weekly, Northeast Times, South Philly Review and nine other publications,  filed for Chapter 11 bankruptcy protection in Camden, New Jersey according to the Philadelphia business Journal, http://www.bizjournals.com/philadelphia/news/2016/09/06/broad-street-media-philly-weekly-bankruptcy-donnel.html

Businessman Richard Donnelly, from South Jersey, bought the companu in July 2016 and will address the 2 million dollars in debt. The plan is to address the debt and add the 12 companies to Newspaper Media Group which has South Jersey publications.

In August Donnelly bought Greater Media Newspapers in central New Jersey and Sun Newspapers in South Jersey.   Packet Media, a paper in Princeton NJ was acquired earlier in the year.

Richard Donnelly is also the president of Donnelly Distribution in Pennsauken, New Jersey, which is an advertising distribution company

http://www.bizjournals.com/philadelphia/news/2016/09/06/broad-street-media-philly-weekly-bankruptcy-donnel.html

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