Romenesko

MediaNews release

July 1, 2009

DENVER, CO ... A media report on Wednesday, citing rumors from unnamed sources, reports that MediaNews Group has proposed a refinancing plan to its bank lenders that would cause a change in control of the company and possibly involve a bankruptcy filing.

The story is inaccurate in almost all respects. As previously reported, MNG is in discussions with its bank lenders to restructure its balance sheet, including an exchange of some of its bank debt for equity in the company.

Proposals to the company's lenders do not include a change in control of the company, nor do they include proposals for any bankruptcy filings, as the rumors suggest.

MediaNews Group remains in compliance with its bank agreements while refinancing discussions continue.