The money section of today’s Birmingham News included a newsbrief about Creative Loafing, Inc. filing for bankruptcy protection on Monday, Sept. 29, noting that CL is a minority owner of Birmingham Weekly and listing CL Birmingham among the affiliates seeking protection.
In fact, CL Birmingham has been defunct since 2000 and Birmingham Weekly is owned and published by Magnolia Media, LLC. Creative Loafing is a minority shareholder in Magnolia Media but Birmingham Weekly has not sought bankruptcy protection and, according to publisher Chuck Leishman, has no intention of doing so. The filing is not expected to have any significant impact on the day-to-day operations of Magnolia Media, which was formed in 2000.
