Reading Eagle newspaper gets ‘multiple bids’
READING, Pa. (AP) — The Reading Eagle newspaper, whose owners recently filed for bankruptcy protection, is evaluating several offers from potential buyers.
Bankruptcy attorney Robert Lapowsky says “multiple bids” were received by Wednesday’s deadline. He says the bids are being reviewed.
If there is more than one qualified bidder for the 150-year-old family-owned paper, an auction will be held Friday.
The Reading Eagle Co. issued a mass-layoff notice this week, telling Pennsylvania state officials that nearly its entire workforce of more than 200 employees could lose their jobs next month.
The company’s other properties include news-talk radio station WEEU and a weekly newspaper. The Eagle has continued to publish under Chapter 11 bankruptcy rules.
The newspaper said it has an average daily circulation of more than 37,000 Monday through Friday, and more than 50,000 on Sunday. It was first published in 1868.