HALIFAX — A Toronto-based restructuring firm says several bidders have offered to buy all or part of SaltWire Network and The Halifax Herald, the two insolvent companies that operate Atlantic Canada's largest newspaper enterprise.
The next step is for KSV to conduct a due diligence process that will determine which bidders will be asked to submit binding offers by May 24 at 5 p.m., which could lead to court approval for a transaction no later than June 28 and an anticipated closing deadline of July 31.On March 13, a Nova Scotia Supreme Court judge granted the media companies and their subsidiaries protection from creditors owed about $90 million.
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