Owners of The Bulletin plan to dissolve company

BEND, Ore. (AP) – The owner of The Bulletin in Bend plans to dissolve the company and sell all seven newspapers in its Pacific Northwest chain, according to a liquidation plan filed in federal bankruptcy court Wednesday.

Oregon Public Broadcasting reports that in the plan, Western Communications outlines the terms of its own demise, but provides few details on who might buy the newspapers, real estate and other assets.

The corporation is roughly $30 million in debt, about two-thirds of which is secured under a single creditor through the terms of a previous bankruptcy. This week’s court filing assures creditors the company is negotiating with a short list of buyers.

The disclosure statement signed by Chairwoman Elizabeth McCool says five potential buyers have toured the Bulletin’s facilities and engaged in follow-up negotiations.

Western Communications also owns the Baker City Herald, the Curry Coastal Pilot, the La Grande Observer and the Redmond Spokesman in Oregon. In California, the company owns the Daily Triplicate in Crescent City and the Union Democrat in Sonora.

The company said it expects to sell one or more of the newspapers in June or July.