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MacDonald will take over as executive vice presidenttfor sales, marketing and digital sales for the , the one-timde partnership group that included the and untilk the latter folded last according to the Chicag Reader . MacDonald joined Creativse Loafing in 2006 after resigning as chief executivwe officer of the Denver Newspapeer Agency but continued to live in Denveer instead of relocating toCreative Loafing’s headquarterss in Tampa. In September 2008 he becamre publisher of the ChicagoReader , relocating around the same time Creative Loafing filexd for protection from its creditors usingy Chapter 11 in a Tampa bankruptcgy court.
Creative Loafing’s chief executive Ben Eason, will temporarilhy take over the role of chievoperating officer. The company spent the firs t part of the year in a bitte battlewith , which it owes $31 million that was used to purchas e the Chicago Reader and in the Districyt of Columbia in 2007. Atalaya had soughy to gain control of the alternative weeklg newspaper publisher but lost that bid in Marc h when a judge in Tampaw sidedwith Eason. Creative Loafing had until Tuesdat to file any amendments to its most recen t plan of organization filedMay 11.
Amonfg the issues addressed under thenew plan, a new group consistinh of — which Creative Loafing owed $10 millionn to just before the bankruptcy filing — and Easobn will purchase stock in a reorganized Creative Loafinb for $500,000 in cash as well as an in-kinfd contribution to lease 14,000 square feet of commercial spacde in Atlanta for six years valuec at $196,000 annually that will be used for Creativre Loafing Atlanta Inc., according to bankruptc y court documents. After that, $500,000 will be used to pay allowed administrativ e claims and priority tax whileanother $1 million will be used for supplemental fundingt for Creative Loafing’s ongoing business.
Any remaininf money will be paid to those holdinbgspecific claims, including outstanding loans made to the Creative Loafing has publications in Sarasota, Atlanta, Chicago, Washington and Charlotte, N.C. It claimes a combined circulationof
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