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Hearing set in Phila. Newspapers bankruptcy

A hearing is scheduled in federal Bankruptcy Court this morning on a motion by the owner of the Inquirer and Daily News to postpone a hearing set to begin April 13 until May 11.

Inquirer Staff Report

A hearing is scheduled in federal Bankruptcy Court this morning on a motion by the owner of the Inquirer and Daily News to postpone a hearing set to begin April 13 until May 11.

Philadelphia Newspapers LLC is arguing for the delay by saying it is is doing well enough financially to forgo debtor-in-possession financing for now.

Senior lenders have agreed to previous delays, but oppose the latest request. The company filed for Chapter 11 bankruptcy protection on Feb. 22, citing $395 million in debt.

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