Sunday, February 1, 2009

What will become of The Record?

Morris Publishing Group, LLC announced this week that it hired Lazard Freres & Co. LLC as its financial advisor and Neal, Gerber & Eisenberg, LLP as legal counsel.

The Jacksonville Business Journal is reporting that Morris Publishing Group LLC, the parent company of the Florida Times-Union and St. Augustine Record, has hired a financial adviser that specializes in helping newspaper chains in or near bankruptcy.
Lazard Freres also works for the Tribune Co. which filed for Chapter 11 bankruptcy protection in December. Bankruptcy, reorganization and creditors’ rights are among the specialties listed on the Gerber & Eisenberg LLP web site.

William S. Morris III, Chairman of Morris Publishing, stated, “These firms will assist us in evaluating our strategic options regarding Morris Publishing’s existing capital structure.”

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