Star Tribune reorg close to finish line

The (Minneapolis) Star Tribune said a bankruptcy court approved plans to put the paper’s reorganization plan to a vote among creditors.
If approved, the company could emerge from bankruptcy as early as Sept. 17 with new owners and only $100 million in debt, according to the Star Tribune.
The newspaper is also expected to identify a new publisher and board of directors. Current publisher Chris Harte said he would step down before the paper emerges from bankruptcy. Current owner, Avista Capital Partners, purchased the Star Tribune for $530 million in 2007. Its equity will be wiped out as a result of the reorganization.