And the winner in the Creative Loafing bankruptcy auction is …
August 25th, 2009 by Kimberly Lawson in News
Atalaya Capital Management.
Outgoing CEO Ben Eason lost control of the company his parents founded in 1972 to the New York hedge fund from whom he borrowed $30 million to buy the Chicago Reader and Washington City Paper.
Atalaya won the auction with a $5 million cash bid. Eason’s highest offer was a $2.3 million bid, $1.5 million of which was “in-kind contributions.” Had Eason won, he also would have had to repay Atalaya at least $12 million.
Read the details here.
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