Freedom receives approval of first day motions

Freedom Communications, a national privately owned media company of print publications, broadcast television stations and interactive businesses including The Porterville Recorder, announced today that it has received approval of first day motions designed to ensure that daily operations continue normally during the company’s restructuring.

The first day relief approved today by the U.S. Bankruptcy Court for the District of Delaware gives the company  permission to pay pre-petition and post-petition employee wages and benefits, use its cash management systems, and continue its advertising and subscriber programs during its Chapter 11 restructuring.

“Quick approval of our first day motions is encouraging and puts Freedom on strong footing as we move forward in implementing the debt restructuring agreement we reached with our lenders,” Freedom CEO Burl Osborne said. “This action should reassure our employees, our customers, our suppliers and the communities we serve that we have sufficient cash to fund daily operations and that it is business as usual.”

Freedom has owned The Recorder since 1974. The company filed Chapter 11 bankruptcy on Tuesday.