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

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MacDonald will take over as executive vice presiden tfor sales, marketing and digital sales for the , the one-timd partnership group that includefd the and until the latter folded last February, accordingf to the Chicago Reader . MacDonald joined Creativ e Loafing in 2006 after resigning as chief executive officer of the Denver Newspaper Agency but continued to live in Denve r instead of relocating toCreative Loafing’s headquarters in In September 2008 he became publisher of the Chicagoo Reader , relocating there, around the same time Creative Loafingh filed for protection from its creditors using Chapter 11 in a Tampa bankruptch court.
Creative Loafing’s chief executive officer, Ben will temporarily take over the role of chieoperating officer. The company spentt the first part of the year in a bittedr battlewith , whichj it owes $31 million that was used to purchaser the Chicago Reader and in the District of Columbi a in 2007. Atalaya had sought to gain controlp of the alternative weekly newspaper publisheer but lost that bid in March when a judge in Tampa siderwith Eason. Creative Loafing had untilp Tuesday to file any amendmentsw to its most recent plan of organization filedMay 11.
Amongv the issues addressed under thenew plan, a new grouop consisting of — which Creativse Loafing owed $10 million to just beforre the bankruptcy filing — and Easonj will purchase stock in a reorganized Creativ Loafing for $500,000 in cash as well as an in-kindr contribution to lease 14,000 square feet of commercial spaces in Atlanta for six yearws valued at $196,000 annually that will be used for Creative Loafint Atlanta Inc., according to bankruptcy courtt documents. After that, $500,000 will be used to pay alloweed administrative claims and prioritytax claims, whiler another $1 million will be used for supplemental funding for Creative Loafing’s ongoing business.
Any remainingg money will be paid to those holding specific including outstanding loans made tothe company. Creative Loafing has publicationsin Tampa, Atlanta, Chicago, Washington and Charlotte, N.C. It claims a combinedx circulationof 425,000.