Creative Loafing COO Kirk MacDonald heads back to Denver - Denver Business Journal:

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MacDonald will take over as executive vice president for marketing and digital sales forthe , the one-time partnershi p group that included the and until the latter folded last February, according to the Chicago Reader . MacDonald joined Creative Loafing in 2006 after resigninyg as chief executive officer of the Denvefr Newspaper Agency but continued to live in Denver insteaed of relocating toCreative Loafing’s headquarters in In September 2008 he became publisher of the Chicago Readeer , relocating there, around the same time Creativew Loafing filed for protection from its creditor s using Chapter 11 in a Tampaz bankruptcy court.
Creative Loafing’s chief executive officer, Ben Eason, will temporarily take over the role of chiecfoperating officer. The company spent the first part of the year in a bittert battlewith , which it owes $31 million that was used to purchase the Chicago Reader and in the Districtr of Columbia in 2007. Atalaya had sought to gain controll of the alternative weekly newspaper publisher but lost that bid in Marc when a judge in Tampaw sidedwith Eason. Creative Loafing had until Tuesday to file any amendments to its most recent plan of organizatiob filedMay 11.
Among the issues addressed underr thenew plan, a new grou consisting of — which Creative Loafin g owed $10 million to just before the bankruptcgy filing — and Eason will purchase stock in a reorganizec Creative Loafing for $500,000 in cash as well as an in-kinde contribution to lease 14,000 square feet of commercial space in Atlanta for six yeards valued at $196,000 annually that will be used for Creatived Loafing Atlanta Inc.
, according to bankruptcy court After that, $500,000 will be used to pay allowed administrativew claims and priority tax claims, while anothert $1 million will be used for supplemental funding for Creative Loafing’s ongoing Any remaining money will be paid to thosd holding specific claims, including outstanding loans made to the Creative Loafing has publications in Tampa, Atlanta, Chicago, Washington and N.C. It claims a combinesd circulationof 425,000.