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Loudoun Independent gets prospective purchaser
Loudoun Independent newspaper soon will come under new ownership if bankruptcy court approves.According to court documents, M.C. Dean has been named the prospective purchaser of the paper and has been paying for its ongoing and payroll expenses since March 3.
Loudoun Independent parent company, Copyboy Publications, filed for Chapter 11 bankruptcy on Feb. 9 with the U.S. bankruptcy office in Alexandria.
Under Chapter 11, the company has time to reorganize and pay creditors without having to cease operations.
M.C. Dean is a Dulles-based engineering and integration firm headed by CEO Bill Dean.
Dean confirmed that he is working towards purchasing the paper, but did not want to comment until everything is finalized with the courts.
Tom Dunlap, attorney with Dunlap, Grubb & Weaver P.C., representing Loudoun Independent, said the sale will not be finalized until the case goes through bankruptcy court and creditors vote on April 29.
Loudoun Independent is still under the leadership of publisher Amy Burns and editor John L. Geddie, son of the late John J. Geddie, the former editor of the Independent who died in August.
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