ANCHORAGE, Alaska (AP) — The fate of Alaska’s largest daily newspaper will be determined by a federal bankruptcy judge.
Judge Gary Spraker was hearing testimony Monday in the bankruptcy filing of the Alaska Dispatch News.
A bid of $1 million was submitted by Alaska businessmen to take over the Anchorage newspaper, but there’s a long list of creditors involving about $12.5 million in debt.
If the sale is not approved, the paper could fold and assets sold off. There were no other bidders.
Alice Rogoff purchased the Anchorage Daily News and its building from The McClatchy Co. in 2014 for $34 million. In August, she filed for bankruptcy protection with the newspaper losing about $500,000 a month.
Rogoff testified Monday and was asked if she thought the $1 million sale price was fair. She said no, but that was the only offer she received.