Freedom Communications eyes exclusivity extension amid sale process

By Caroline Salls

Pittsburgh, Feb. 22 – Freedom Communications, Inc. requested court approval to extend its exclusive periods for filing and soliciting votes on a plan of reorganization, according to a motion filed Monday with the U.S. Bankruptcy Court for the Central District of California.

The company wants to extend its exclusive filing period to April 29 from Feb. 29 and the solicitation period to June 28 from April 29.

According to the motion, Freedom needs more time to complete the sale of its assets. The company said it expects to file a plan and related disclosure statement following the sales process, which is expected to wrap up at the end of March.

“The debtors simply cannot file a plan and disclosure statement prior to such time because the funding for the plan is coming from the sale of the debtors’ assets,” the company said in the motion.

Freedom Communications, a Santa Ana, Calif.-based newspaper company, filed for bankruptcy on Nov. 1. The Chapter 11 case number is 15-15311.

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