ANCHORAGE, Alaska (AP) — The fate of Alaska's largest daily newspaper, Alaska Dispatch News (ADN), will be determined by a federal bankruptcy judge.
The daily Newspaper's future is still on shaky grounds following a hearing testimony Monday.after the company's bankruptcy filing. Judge Gary Spraker was the judge in that hearing.
From the Associated Press, a bid of $1 Million was submitted by a group of Alaska businessmen, but there is a long list of creditors involving about 12.5 million in debt. If the sale is not approved, assets could be sold off. As of this report, there are no other bidders.
Alice Rogoff purchased the Anchorage Daily News and its building from The McClatchy Co. in 2014 for $34 million. In August, she filed for bankruptcy protection with the newspaper losing about $500,000 a month.
Rogoff claimed that the price wasn't fair during that hearing, but once again, this $1 million dollar bid is the only one she has received so far.
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