Reading Eagle Bankruptcy

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    • #2598
      Alexa
      Keymaster

      The over 150 year old Reading Eagle filed for Chapter 11 bankruptcy on March 21st, 2019. Bids were to be placed by mid-May with an auction to be held if more than one qualifying bid was placed. The only qualified bidder ended up being MediaNews Group, a company known for swallowing up local media outlets and cutting them up to a shell of their former selves. MediaNews Group announced today that,
      “At least five days before the closing date, MediaNews Group will notify employees who will be retained and conditions of their employment.

      Employees not retained by MediaNews Group will not receive a severance package, the documents state.

      As of the closing date, the documents say, WEEU will go off the air.”

      It’s a sad day for Berks County.

    • #3148
      Alexa
      Keymaster

      12/2/19 Update:

      WEEU’s license was bought by another company and continues to run with an altered format.

      The Reading Eagle changed hands in July and the format of the newspaper has also changed dramatically. Less local content and a smaller paper have made for some very unhappy customers. The Reading Eagle’s large 3-story printing press has been shut down and abandoned and it is now printed in Exton where the rest of the regional newspapers are printed for Media News Group. The employee base is a fraction of what it was before changing hands in July.

       

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