If you pick up a weekly alternative newspaper in Atlanta, Charlotte, Chicago, Sarasota, Tampa, and D.C., you probably have heard of Creative Loafing. They were (up until this morning) the owners of the newspaper chain. Today, a New York hedge fund took control of the chain in a bankruptcy auction.
Atalaya Capital Management's $5-million bid came in much higher than any others, according to Tampabay.com.
According to the new owners, things will go as usual at each of the publications.
