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GateHouse Files for Bankruptcy as Part of Fortress Plan

GateHouse Media Inc., the community newspaper publisher overseen by the co-chairman of Fortress Investment Group LLC, filed for bankruptcy after creditors approved a plan to combine its assets with those recently purchased by Newcastle Investment Corp.

GateHouse, based in Fairport, New York, listed assets of $433.7 million and debt of $1.3 billion in a Chapter 11 petition filed today in U.S. Bankruptcy Court in Wilmington, Delaware.