Bankruptcy sale puts jobs at Saratogian, Record in question

Th Saratogian building in Saratoga Springs. Parent company Journal Register Co. has sent termination notices to all employees as part of the ongoing sale process. As new owner, 21st CMH will make employment decisions when the sale closes.

Journal Register Co. has sent termination notices to all of its employees, including those at The Record in Troy and The Saratogian in Saratoga Springs, as part its pending sale in a bankruptcy court auction, but that does not mean their jobs will be eliminated.

The Yardley, Pa.-based company, which filed for protection in September, will seek court approval Thursday for a $122 million sale to 21st CMH Acquisition Co., an affiliate of funds managed by Alden Global Capital LLC. Alden Capital, which invests in distressed media companies, purchased a majority stake in Journal Register in 2011.

A Feb. 20 filing with the New York State Department of Labor said Journal Register employs a total of 230 people at The Record, The Saratogian, the Daily Freeman in Kingston, the Oneida Daily Dispatch and in an office in New York City. There was no breakdown by location.

Michael O?Sullivan, publisher of both The Record and The Saratogian, referred all questions to Jon Cooper, vice president of media relations for Digital First, which operates Journal Register and other media companies.

Cooper said the notices were sent to all employees?from part-time staffers to managers to the executive team?as part of the ongoing sale process. New owner, 21st CMH will make employment decisions when the sale closes in mid-April.

"Journal Register?s leadership team cannot speak on behalf of the new owner but has continually expressed to the purchaser that a competent and competitive workforce is critical to the company?s success moving forward," he said.

The Saratogian reported that there have been no changes in its personnel.

Pinckney covers banking, health care, media and advertising.

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