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JRC2

JRC2

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Published by ryanchittum
bankruptcy petition
bankruptcy petition

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Published by: ryanchittum on Sep 11, 2012
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11/06/2012

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01:12458908.1DB1/ 70981563.1
UNITED STATES BANKRUPTCY COURTSOUTHERN DISTRICT OF NEW YORK
)In re: )Chapter 11)JOURNAL REGISTER COMPANY,
et al.
,
1
)Case No. 12-13774 (___))Debtors. )(Joint Administration Requested))
DECLARATION OF WILLIAM J. HIGGINSON IN SUPPORT OF DEBTORS’CHAPTER 11 PETITIONS AND FIRST DAY MOTIONS
I, William J. Higginson, hereby deposes and says:1.
 
I am the Executive Vice President of Operations of Journal Register Company(“JRC”), a company organized under the laws of the State of Delaware and one of theabove-captioned debtors and debtors in possession (collectively, the “Debtors”). In this capacity,I am familiar with the Debtors’ day-to-day operations, businesses, financial affairs, and booksand records.2.
 
On the date hereof (the “Petition Date”), JRC and 28 of its direct and indirectsubsidiaries each filed a voluntary petition for relief under chapter 11 of title 11 of the UnitedStates Code (the “Bankruptcy Code”). The Debtors continue to operate their businesses andmanage their properties as debtors in possession pursuant to §§ 1107(a) and 1108 of theBankruptcy Code. Concurrently herewith, the Debtors filed a motion seeking joint
1
The Debtors in these chapter 11 cases, along with the last four digits of each Debtor’s federal tax identificationnumber, are: Journal Register Company (8615); Register Company, Inc. (6548); Chanry Communications Ltd.(3704); Pennysaver Home Distributions Corp. (9476); All Home Distribution Inc. (0624); JR East Holdings, LLC(N/A); Journal Register East, Inc. (8039), Journal Company, Inc. (8220); JRC Media, Inc. (4264); Orange CoastPublishing Co. (7866), St. Louis Sun Publishing Co. (1989); Middletown Acquisition Corp. (3035); JiUS, Inc.(3535); Journal Register Supply, Inc. (6546); Northeast Publishing Company, Inc. (6544); Hometown Newspapers,Inc. (8550); The Goodson Holding Company (2437); Acme Newspapers, Inc. (6478); 21st Century Newspapers, Inc.(6233); Morning Star Publishing Company (2543); Heritage Network Incorporated (6777); IndependentNewspapers, Inc. (2264); Voice Communications Corp. (0455); Great Lakes Media, Inc. (5920); Up NorthPublications, Inc. (2784); Greater Detroit Newspaper Network, Inc. (4228); Digital First Media Inc. (0431); GreatNorthern Publishing, Inc. (0800); and Saginaw Area Newspapers, Inc. (8444). The mailing address for each of theDebtors is Lower Makefield Corporate Center, 790 Township Road, 3rd Floor, Yardley, PA 19067.
12-13774-smb Doc 2 Filed 09/05/12 Entered 09/05/12 12:22:14 Main DocumentPg 1 of 81
 
DB1/ 70981563.1
2
01:12458908.1
administration of these chapter 11 cases pursuant to Rule 1015(b) of the Federal Rules of Bankruptcy Procedure (the “Bankruptcy Rules”).3.
 
I submit this declaration (this “First Day Declaration”) pursuant to Rule 1007 of the Federal Rules of Bankruptcy Procedure (the “Bankruptcy Rules”) and Rule 1007-2 of theLocal Bankruptcy Rules for the Southern District of New York (the “Local Rules”) to (i)provide an overview of the Debtors and these chapter 11 cases (ii) support the Debtors’ chapter11 petition and “first day” motions (each, a “First Day Motion,” and collectively, the “First DayMotions”)
2
and (iii) to provide certain information required by Local Rule 1007-2. Except asotherwise indicated herein, all facts set forth in this First Day Declaration are based upon mypersonal knowledge of the Debtors’ operations and finances, information learned from myreview of relevant documents, information supplied to me by other members of the Debtors’management and the Debtors’ advisors, or my opinion based on my experience, knowledge, andinformation concerning the Debtors’ operations and financial condition. I am authorized tosubmit this First Day Declaration on behalf of the Debtors, and, if called upon to testify, I couldand would testify competently to the facts set forth herein.
I.
 
General Background.A.
 
Debtors’ Business and Overview.
4.
 
JRC is a national multi-regional, multi-platform media company. Formallyestablished in 1997, JRC went public in May of that year. The Debtors are committed to being acustomer-focused provider of local news, sports, business and lifestyle information to itscustomers on the platforms of the customers’ choice – print and digital. Until a few years ago,
2
All capitalized terms used but otherwise not defined herein shall have the meanings set forth in the relevant FirstDay Motion.
12-13774-smb Doc 2 Filed 09/05/12 Entered 09/05/12 12:22:14 Main DocumentPg 2 of 81
 
DB1/ 70981563.1
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01:12458908.1
the Debtors’ products were predominantly print products. The Debtors’ digital and print titles aregeographically clustered around Greater Philadelphia; Greater Detroit; Connecticut; GreaterCleveland; and the Capital Saratoga and Mid-Hudson regions of New York State providing itsadvertising customers with comprehensive, multi-media solutions, and its online and printcustomers with comprehensive local and regional news coverage. The Debtors’ newspapers arecharacterized by their intense focus on the coverage of local news and local sports. The Debtorsmanage their newspapers to best serve the needs of their local readers and advertisers. Theeditorial content of their newspapers is tailored to the specific interests of each local communityserved and includes coverage of local youth, high school, college and professional sports, as wellas local business, politics, entertainment and culture.5.
 
The Debtors pursue a strategy which leverages the power of their print brands todrive both digital audience and revenue on the media platforms of the customer’s choice whilepreserving and enhancing the Debtors’ print products.6.
 
The Debtors’ print products are geographically clustered. This clustering strategycreates significant synergies, efficiencies, and cost savings for their print products within eachcluster. These synergies include: (i) increased reach for advertisers; (ii) regional cross-selling of advertising and promotion and (iii) regionalized news gathering and production efficienciesthrough the consolidation of printing, distribution and back-office activities.7.
 
In response to industry wide challenges, which include the migration of advertising revenue from print to digital and customers’ increasing preference to access newsdigitally, the Debtors in early 2010 increased their investments to meet these challenges. TheDebtors launched a strategy that leveraged the power of their print brands to drive both digital
12-13774-smb Doc 2 Filed 09/05/12 Entered 09/05/12 12:22:14 Main DocumentPg 3 of 81

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