Atalaya Capital Management

Atalaya Capital Management | Private Equity Profile

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Resource #1: Meanwhile, Creative Loafing, the Tampa-based alternative newspaper chain, will soon be in the hands of New York-based private equity firm Atalaya Capital Management. In an bankruptcy auction for the chain, Atalaya's $5.0 million bid beat out that of the newspaper's publisher, Ben Eason, the only other bidder.

Creative Loafing got into trouble in 2007 when it took on about $40 million in debt to purchase the Washington City Paper and the Chicago Reader. When the economy plummeted, Creative Loafing's advertising and other revenues were hit hard, leaving it saddled with debt.

Atalaya says it will continue operating the chain, which includes six alternative newspapers. Source

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Tags: Atalaya Capital Management, Atalaya Capital Management investments, Atalaya Capital Management holdings, Atalaya Capital assets, investments, Creative Loafing buyout

Link to This Resource: Atalaya Capital Management

http://privateequityblogger.com/2007/08/atalaya-capital-management.html