A flurry of court filings today paint a frightening picture for the financial health and pending sale of Alaska's largest newspaper.
The Alaska Dispatch News is in bankruptcy court with a sale pending to a group headed by the Fairbanks-based Binkley family.
But a filing on Thursday from an official with the US Justice Department expresses reservations about the Binkley group operating the paper as it navigates bankruptcy, saying the group's obligation to try and maximize value for creditors is at odds with its goal of purchasing the paper at the cheapest price possible.
In its own filing, the Binkley group said the speedy approval of the newspaper sale is a necessity, because the paper under its current ownership, quote, "no longer has the funds to meet its September 23rd payroll."
According to filings from Alaska Dispatch News owner Alice Rogoff, the paper is losing $125-thousand dollars per week and owes more than two-and-a-half million dollars to creditors.