Maybe so, but the Hoiles family that founded Freedom will be more or less displaced by the court action. Current shareholders, including the Hoiles, will be left with as much as "a 2 percent equity interest in the company," with lenders winding up with control over the rest of the firm. Once Freedom emerges from bankruptcy, the new owners can presumably do what they wish with the papers -- but Osborne and Gazette publisher and president Steven Pope clearly hope they'll maintain the highly conservative status quo.
The following exchange appears in a bankruptcy Q&A jointly attributed to both Pope and Osborne:
Q: Will The Gazette's libertarian editorial philosophy change?
Osborne: Nothing in the agreement with our lenders affects the editorial positions that we believe are appropriates for the communities we serve. I assume the new owners will not act against their self interest by interfering in the way we interact with the communities where we operate.
That's wishful thinking, of course. Even so, the Gazette's rightward list is likely to hold sway for the foreseeable future, if only because it so closely matches the dominant views of the Springs' populace as a whole. The Gazette suddenly becoming a radical left-wing rag would be bad for business -- and this week's move is all about making more money, not less.