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Free Lance-Star Plans Auction Under Chapter 11

Bankruptcy judge approved continued operations of the company's newspaper, radio and printing businesses.

Fredericksburg Free Lance-Star files for bankruptcy.  Patch file photo.
Fredericksburg Free Lance-Star files for bankruptcy. Patch file photo.
U.S. Bankruptcy Court Judge Kevin R. Huennekens on Friday approved motions enabling the Free Lance-Star Publishing Co. to continue operations while pursuing sale of the company, which filed a Chapter 11 bankruptcy petition Thursday.

"Also Friday, Lynn Tavenner, a Richmond lawyer who is representing Free Lance-Star Publishing, said the company filed documents to set in motion a court-monitored auction of the company," the Richmond Times-Dispatch reported.

Another hearing is scheduled in Richmond on Feb. 27, followed by a meeting of creditors the next day.

In addition to The Free Lance-Star newspaper, the company's assets include Fredericksburg.com, Freelancestar.com, WFLS, WYSK, WWUZ and WNTX. It also owns real estate and other digital operations.

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Elizabeth Talbot January 25, 2014 at 11:27 AM
Thank you for your ongoing coverage of the FLS story. I read the print story in this morning's edition of the FLS which did not mention any auction. Any word on who would conduct such an auction, how the assets would be put up for sale, and whether the FLS would continue publication after such an auction.
Susan Larson January 25, 2014 at 09:08 PM
Thanks for asking, Elizabeth. This is what the Richmond Times-Dispatch reported: "Lynn Tavenner, a Richmond lawyer who is representing Free Lance-Star Publishing, said the company filed documents to set in motion a court-monitored auction of the company." So it would be a court-monitored auction. The details are forthcoming. That's all we have at this point, but we will continue to follow the story.

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