From the Denver Business Journal:
Warner Gateway Partners, the Daily News’ landlord, asked the Bankruptcy Court to require proof that Los Angeles Daily News Publishing Co. can pay the lease on its building, or else to reject an effort by its parent, MediaNews, to reassign the lease to it.Bank of New York Mellon Trust filed the other objection, asking the court to ensure its "fees and expenses" are paid.
The Los Angeles Daily News occupies about one-quarter of the Warner Gateway project in Woodland Hills. MediaNews Group holds a 15-year, $27.6 million lease that expires in 2022, according to the filing.
The filing says representatives of the debtor began discussing a possible lease modification in January, but never made an offer, and provided information showing that the Daily News had lost $5 million over the past two years.
Last week, GreenCo filed the first objection in the case. The company says it is owed at least $8.4 million for an option it has held since 1998 to buy all of the Daily News' assets.