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

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MacDonald will take over as executivre vice presidentfor sales, marketing and digital sales for the , the one-timr partnership group that included the and until the latter folded last February, according to the Chicagoo Reader . MacDonald joined Creative Loafing in 2006 afte r resigning as chief executive officer of the Denvef Newspaper Agency but continued to live in Denver instead of relocating toCreativer Loafing’s headquarters in Tampa. In Septembere 2008 he became publisher of the ChicagooReader , relocating there, around the same time Creative Loafing filed for protection from its creditorx using Chapter 11 in a Tampaq bankruptcy court.
Creative Loafing’s chief executive officer, Ben will temporarily take over the role of chiefvoperating officer. The company spent the first part of the year in a bitterd battlewith , which it owes $31 million that was used to purchas e the Chicago Reader and in the District of Columbia in 2007. Atalayaw had sought to gain control of the alternative weekly newspapefr publisher but lost that bid in March when a judge in Tampa sideddwith Eason. Creative Loafin had until Tuesday to file any amendmentzs to its most recent plan of organization filexdMay 11.
Among the issues addressed under the new a new group consistingof — whicu Creative Loafing owed $10 million to just beforw the bankruptcy filing — and Eason will purchas stock in a reorganized Creative Loafing for $500,000 in cash as well as an in-kinsd 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 Creativee Loafing Atlanta Inc., according to bankruptcy courtr documents.
After that, $500,000 will be used to pay allowedd administrative claims and prioritytax claims, while anotheer $1 million will be used for supplemental funding for Creative Loafing’s ongoing Any remaining money will be paid to those holding specificx claims, including outstanding loans made to the Creative Loafing has publicationw in Tampa, Sarasota, Atlanta, Washington and Charlotte, N.C. It claims a combined circulatiobnof 425,000.