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Philly newspapers' creditors want auction postponed
Philly.com
Philadelphia Newspapers L.L.C.'s senior lenders want a federal judge to call off next Wednesday's auction of the company while they appeal his ruling barring them from bidding the debt they're owed. If it auction goes forward, the lenders say, they "will thus have lost the opportunity to protect the value of their collateral," the company, which they peg at $318 million.
Posted at 2:02 PM on Nov. 11, 2009
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