GateHouse Media Inc., the community newspaper publisher overseen by the co-chairman of Fortress Investment Group LLC, said that it will seek votes today on a plan to reorganize in bankruptcy, Bloomberg News reported yesterday. Fairport, N.Y.-based GateHouse has proposed a pre-packaged plan that will allow it to enter chapter 11 bankruptcy with creditor support if more than 67 percent of debt holders accept, the company said in a regulatory filing on Friday. The publisher has said that it plans to file for bankruptcy as part of a move to merge its media assets with those recently bought by Newcastle Investment Corp. The reorganization, which has support from most creditors, hinges on the combination of GateHouse with assets of Dow Jones Local Media Group, which Newcastle bought from News Corp. in this month for $87 million.
