The owner of the Honolulu Star-Advertiser has entered a court-supervised restructuring to reduce debt and to position the company for a possible sale to a partnership that plans to invest in quality, impactful journalism in Hawaii.
Black Press Ltd. announced Monday that as part of its restructuring, its two largest existing debt-holders — Canadian institutional investors Canso Investment Counsel Ltd. and Deans Knight Capital Management Ltd. — along with community media company Carpenter Media Group would join forces in the potential purchase.
The proposed sale would include a capital injection from the potential new owners, to allow Black Press companies and newspapers, including Oahu Publications Inc. and the Star-Advertiser, to continue operating in the markets they serve, according to the announcement.
