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Progress reported on bid to sell insolvent media companies SaltWire and The Herald

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HALIFAX — A Nova Scotia judge received good news today during an update on the proposed sale of the SaltWire Network and The Halifax Herald, two financially troubled companies that operate Atlantic Canada's largest newspaper chain.

HALIFAX — A Nova Scotia judge received good news today during an update on the proposed sale of the SaltWire Network and The Halifax Herald, two financially troubled companies that operate Atlantic Canada's largest newspaper chain.

On March 13 and again on March 22, Keith granted the companies protection from creditors who are owed about $90 million, and another extension was granted today until June 28. Last week, a report from the monitor — Toronto-based KSV Restructuring — confirmed that several bidders have submitted non-binding offers to buy all or part of the two companies.

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