ORLANDO, Fla. (AP) - A lawyer representing The News-Journal
Corp. says the newspaper company might consider bankruptcy to keep
the publication in operation.
The company has hired a lawyer to look into reorganizing its
debt as a way to break away from minority partner Cox Enterprises.
Bruce A. Hanna, who represents the newspaper, told a federal
judge Thursday that the strategy could "potentially allow The
News-Journal to continue operating, thereby saving several hundred
Atlanta-based Cox owns nearly half of the News-Journal and had
sued the newspaper's board of directors, accusing it of wasting $13
million for naming rights to a community arts center in Daytona