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GateHouse Media, the severely ailing upstate New York newspaper chain, has sued Copley Press for failure to pay termination benefits for certain employees. Copley sold its Illinois and Ohio papers to GateHouse in early 2007 for more than $380 million. According to a Peoria, Illinois, website, Copley had been paying the benefits until March of this year. The payments were to reimburse GateHouse for termination pay and continued benefits for employees dropped on or before Dec. 1, 2007. GateHouse wants actual and compensatory damages of $63,791, according to the website. (The Peoria paper was one that was sold.) GateHouse's revenues are dropping -- in this year's first quarter to $139.2 million from $163.8 million in the same quarter a year earlier. The company lost $10.3 million in the quarter, down from a slight profit the year before. Cash flow was negative in the quarter. GateHouse stock sells for 20.5 cents.
GateHouse Media, the severely ailing upstate New York newspaper chain, has sued Copley Press for failure to pay termination benefits for certain employees. Copley sold its Illinois and Ohio papers to GateHouse in early 2007 for more than $380 million. According to a Peoria, Illinois, website, Copley had been paying the benefits until March of this year. The payments were to reimburse GateHouse for termination pay and continued benefits for employees dropped on or before Dec. 1, 2007. GateHouse wants actual and compensatory damages of $63,791, according to the website. (The Peoria paper was one that was sold.) GateHouse's revenues are dropping -- in this year's first quarter to $139.2 million from $163.8 million in the same quarter a year earlier. The company lost $10.3 million in the quarter, down from a slight profit the year before. Cash flow was negative in the quarter. GateHouse stock sells for 20.5 cents.