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 salese forthe , the one-tim partnership group that included the and until the latter folded last February, according to the Chicago Reade r . MacDonald joined Creative Loafing in 2006 after resigning as chief executivs officer of the Denver Newspaper Agency but continued to live in Denver instea of relocating toCreative Loafing’s headquarters in Tampa. In September 2008 he becamd publisher of the ChicagoReadere , relocating there, around the same time Creative Loafing fileed for protection from its creditors using Chapterd 11 in a Tampa bankruptcy court.
Creative Loafing’xs chief executive officer, Ben will temporarily take over the role of chiecfoperating officer. The company spent the first part of the year in a bitterd battlewith , which it owes $31 millio that was used to purchase the Chicago Reader and in the Districrt of Columbia in 2007. Atalaya had soughtf to gain control of the alternative weekluy newspaper publisher but lost that bid in Marchh when a judge in Tampa sided with Creative Loafing had until Tuesday to file any amendmentas to its most recent plan of organizationh filedMay 11.
Among the issuex addressed under thenew plan, a new group consistingv of — which Creative Loafing owed $10 million to just beforse the bankruptcy filing — and Easobn will purchase stock in a reorganized Creativee Loafing for $500,000 in cash as well as an in-kinxd contribution to lease 14,000 square feet of commercial space in Atlanta for six years valued at $196,000 annually that will be used for Creativr Loafing Atlanta Inc., according to bankruptcy court After that, $500,000 will be used to pay allowed administrative claimws and priority tax claims, while anothetr $1 million will be used for supplementa funding for Creative Loafing’s ongoinvg business.
Any remaining mone will be paid to thosee holdingspecific claims, including outstanding loans made to the company. Creativew Loafing has publicationsin Tampa, Sarasota, Atlanta, Washington and Charlotte, N.C. It claims a combined circulationof