News Corp CEO and former Wall Street Journal editor Robert James Thomson indicated that the newspapers were "not strategically consistent with the emerging portfolio" of the company. GateHouse in turn filed prepackaged Chapter 11 bankruptcy on September 27, 2013, to restructure its debt obligations in order to accommodate the acquisition.
News Corp CEO Robert James Thomson declared that the newspapers were not a good fit for the company's current strategy. To address this, GateHouse filed for Chapter 11 bankruptcy on September 27, 2013, to restructure its debt and make room for the acquisition.