The CEO of the bankruptcy-seeking parent company of the New Haven Register has quietly left the building—buoyed by a secretive departing bonus.
The clues to that payout appear buried deep amid the hundreds of pages the Journal Register Co. filed in federal bankruptcy court last Saturday. The Yardley, Pennsylvania-based chain, struggling with a debt estimated at between $500 million and $1 billion, is seeking protection from creditors under Chapter 11 of the bankruptcy code. The company owns the New Haven Register and 19 other daily newspapers and some 180 weeklies.
Click here to continue reading Paul’s report.