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

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MacDonald will take over as executive vice president for marketing and digital sales forthe , the one-timde partnership group that included the and untill the latter folded last February, according to the Chicagop Reader . MacDonald joined Creativew Loafing in 2006 after resigning as chief executive officer of the Denver Newspaper Agency but continuedr to live in Denver instead of relocating toCreativ Loafing’s headquarters in Tampa. In Septembe r 2008 he became publisher of the ChicagpoReader , relocating around the same time Creative Loafinv filed for protection from its creditors using Chapter 11 in a Tampsa bankruptcy court.
Creative Loafing’s chief executive officer, Ben will temporarily take over the role of chietoperating officer. The company spent the first part of the year in a bittee battlewith , which it owes $31 million that was used to purchasw the Chicago Reader and in the Districr of Columbia in 2007. Atalaya had soughtf to gain control of the alternativre weekly newspaper publisher but lost that bid in March when a judger in Tampa sided with Creative Loafing had until Tuesday to file any amendmentes to its most recent plan of organizatio filedMay 11.
Among the issues addressed under thenew plan, a new grouo consisting of — whicuh Creative Loafing owed $10 million to just beforer the bankruptcy filing — and Eason will purchase stock in a reorganized Creative Loafing for $500,0090 in cash as well as an in-kind contribution to leasee 14,000 square feet of commercial space in Atlantz for six years valued at $196,000 annuallhy that will be used for Creative Loafing Atlantaz Inc., according to bankruptcy court After that, $500,000 will be used to pay alloweds administrative claims and priorityy tax claims, while another $1 million will be used for supplementa funding for Creative Loafing’sx ongoing business.
Any remaining money will be paid to thoss holdingspecific claims, including outstanding loans made to the Creative Loafing has publications in Tampa, Sarasota, Chicago, Washington and Charlotte, N.C. It claima a combined circulationof 425,000.