MediaNews Group’s purchase of the Reading Eagle Co. (Pennsylvania) will likely be complete by the end of June, Reading Eagle staff was informed, the Philadelphia Inquirer reported.
MediaNews Group, which does business as Digital First Media, is purchasing Reading Eagle for $5 million after the Reading Eagle filed for Chapter 11 protection in March. MediaNews Group was the only qualified bidder, the paper reports.
MediaNews Group has extended job offers to 125 staff members, and 111 have said yes to the offers, according to the paper.
In mid-June, Reading Eagle Co. had 195 staff members, officials said, the paper reported. In March, the company had 236 full-time and 20 part-time workers, according to the paper.
A Worker Adjustment Retraining Notification, or WARN, notice sent to the Pennsylvania state Department of Labor and Industry said 81 employees would lose their jobs, but the figure is now 84, the company said, according to the paper.
Reading Eagle Company has the Reading Eagle, the South Schuylkill News, Pretzel City Productions and its printing subsidiary REP, and WEEU 830 AM.
Pennsylvania-based Twilight Broadcasting is buying WEEU's federal broadcasting license and will lease its broadcasting facility and towers, according to Twilight General Manager Todd Adkins, the Eagle