Briefs

With license sale, Reading Eagle Company sheds last of its media properties

Posted

With the agreement to sell its WEEU 830 AM license to Twilight Broadcasting, the Reading Eagle Company sold its sole remaining media operation.

Reading Eagle Company filed for Chapter 11 bankruptcy in March, and the sale of its flagship 37,000-circulation Reading (Pennsylvania) Eagle and related assets was approved for sale by the court to MediaNews Group, which publishes several newspapers in the southeastern region of the state.

The WEEU license was not included in that sale to MediaNews. Twilight, the buyer for the broadcast license, is a New Freedom, Pennsylvania-based company led by Robert Lowe.

Dirks, Van Essen, Murray & April, a media merger and acquisition firm based in Santa Fe, New Mexico, is representing the Reading Eagle Company in the sale, which is expected to close by the end of July.