New Millennium Assets To Be Liquidated
by Staff -- Publishers Weekly, 5/17/2004
The publishing assets of financially troubled New Millennium Enterprises, which recently published the controversial memoir by disgraced New York Times reporter Jayson Blair, will be liquidated under an order signed by a bankruptcy court judge in Los Angeles, according to published reports.
New Millennium filed for bankruptcy in September. The company reports about $2.5 million in debt and owes another $2.8 million to Otto Penzler, a New York City mystery book publisher, after losing a breach-of-contract suit.
Michael Viner, the company's former CEO, resigned from his position last month. Viner is also in the midst of divorce proceedings with Deborah Raffin. The two were co-owners of New Millennium Enterprises.
