Reading Eagle files for bankruptcy protection, seeks buyer
READING, Pa. (AP) — The family-owned company that has published the Reading Eagle newspaper for more than 150 years is filing for bankruptcy protection and seeking a buyer.
The Reading Eagle Co., whose other properties include news-talk radio station WEEU and a weekly newspaper, said Wednesday it will continue to publish and broadcast under Chapter 11 bankruptcy rules.
At a meeting with employees, chief executive Peter Barbey said the company is pursuing options with other news media companies. The company has 236 full-time employees and 20 part-time.
The company said it has already met with several potential buyers.
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 said its website, readingeagle.com, averages over 600,000 unique users and 3.2 million pageviews a month.
The newspaper was first published in 1868.