Freedom Communications, a newspaper publisher whose titles include the Orange County Register, is expected to file for bankruptcy protection this week, in an attempt to restructure its debt. The Blackstone Group and Providence Equity Partners bought a 40 percent stake in Freedom Communications in 2004 for approximately $460 million.
The Reader’s Digest Association
’s U.S. unit filed for Chapter 11 bankruptcy protection as part of a restructuring that would turn over company control to a group of lenders. Existing equity sponsor Ripplewood Holdings would be wiped out.
SkyPower Corp., a Canadian renewable energy company majority-owned by Lehman Brothers Private Equity, has filed for bankruptcy protection.
Terra Firma Capital Partners is working with lenders of portfolio company EMI Group to prevent a loan agreement default. Terra Firma bought EMI for £4 billion ($6.46 billion), including a £2.6 billion loan from Citigroup.