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Martin Moylan
St. Paul, Minn.

Business publisher Dolan Co. files for bankruptcy

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The Dolan Co., publisher of Finance and Commerce in Minneapolis and the Legal Ledger in St. Paul, is filing for bankruptcy, hoping to reorganize and revive its business.

The company hopes to reduce its debt by more than two-thirds, to about $50 million, and emerge from bankruptcy within two months or so. No layoffs are expected, though as part of the bankruptcy, founder James Dolan will resign as chief executive.

The bankruptcy involves most of Dolan's operations. But the company says it will continue to operate normally.

Besides publishing business journals, the company provides corporate legal departments with electronic discovery services, operates web sites and produces events for legal and other professional audiences. Dolan has about 800 employees in 19 markets across the U.S.