Black Press Ltd. files for creditor protection, announces sale.

Black Press Ltd., a publisher of dozens of community newspapers across Western Canada, has entered creditor protection, secured a tentative sale, and announced the retirement of its founder, David Black. The company has entered into a sales agreement with Canso Investment Counsel Ltd., Deans Knight Capital Management Ltd., and Carpenter Media Group. Black Press will seek court approval to launch a sale solicitation process, with the sale agreement to the three investors acting as a backstop. The company has also secured debtor-in-possession financing from Canso to help maintain operations during the process. The sale is intended to provide needed investment to allow the publisher to continue serving readers and advertisers.

January 15, 2024
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