May 12, 2008 — The Daily News Publishing Co. will soon be under new ownership, pending approval from U.S. Bankruptcy Court Judge Judith K. Fitzgerald.
The company was sold at auction Monday morning, but the name of the winning bidder will not be made public until the sale is approved by the court. The auction is part of the ongoing liquidation of assets owned by Innovative Communication Corp. principal Jeffrey Prosser.
Prosser is in Chapter 7 bankruptcy and ICC — parent company to the V.I. Telephone Co., Innovative Cable, TV Channel 2 and other local companies — is in Chapter 11.
Vitelco and Innovative Cablevision services will be sold at auction June 16.
Back Talk Share your reaction to this news with other Source readers. Please include headline, your name and city and state/country or island where you reside.
