Now more material unlikely to see print in the Post has surfaced, this time courtesy of the Denver Daily News, which reports that MediaNews has asked a judge to order Qwest, its phone and Internet provider, not to pull the plug on it during the bankruptcy process -- and to give it permission not to print "Debtor-in-Possession" on its checks.
Here's an excerpt from the Daily News piece about the latter issue:
One document indicates MediaNews is asking the court if it could be exempted from a guideline that it print "Debtor-in-Possession" on its checks like other companies in Chapter 11 reorganization.The embarrassing "Debtor-in-Possession" label is intended to warn those with whom it does business about its situation. But MediaNews said it has issued press releases and notices to its creditors, and shouldn't have to print the warning on its checks.
The drip-drip-drip of further revelations can be largely prevented if MediaNews opts for full disclosure as opposed to spin. After all, many newspaper companies are dealing with issues like these, and MediaNews has a better chance than most of them to emerge from its financial troubles in reasonably good shape -- at least by today's standards.
For now, though, it looks as if the Daily News and other newspapers will be doing the heavy lifting on this story.
