cThe Free Lance-Star Publishing Co. in Fredericksburg, VA also requested the right to remain in operation as the company works towards finding a solution for its financial problems.
Leaving A Legacy
The Free Lance-Star Publishing Co. has been owned and operated by the Rowe family for the last 130 years. Working hard to develop a reputation for integrity and innovation in media publishing, the FLS has been suffering financial problems under the sinking newsprint industry for years. Having branched out into Web content production and radio station management to compensate, the FLS has not been able to make payments on its over $40 million in debt obligations.
With no choice but to move into new ownership, the FLS is committed to not disrupting day-to-day operations or threaten the jobs of its employees or interrupt service to its customers. A company spokesperson commented last week, ” As you can imagine, this has been a difficult decision for the Rowe family to make, but we believe this is in the best interest of everyone involved.” The Free Lance-Star Publishing Co. is hoping that the new owner will continue the mission of the company and continue to be a positive presence in the Fredericksburg community.