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IN RE INTERSTATE GENERAL MEDIA HOLDINGS, LLC

C.A. No. 9221-VCP.

IN RE INTERSTATE GENERAL MEDIA HOLDINGS, LLC.

Court of Chancery of Delaware.

Decided: April 25, 2014.

Attorney(s) appearing for the Case

P. Clarkson Collins, Jr., Esq. , Peter B. Ladig, Esq. , Brett M. McCartney, Esq. , MORRIS JAMES LLP, Wilmington, Delaware; Robert C. Heim, Esq. , Michael L. Kichline, Esq. , Sabrina L. Reliford, Esq. , DECHERT LLP, Philadelphia, Pennsylvania, Attorneys for Petitioner General American Holdings, Inc.

Jody C. Barillare, Esq. , MORGAN, LEWIS & BOCKIUS LLP, Wilmington, Delaware; Marc J. Sonnenfeld, Esq. , Steven A. Reed, Esq. , Jason H. Wilson, Esq. , MORGAN, LEWIS & BOCKIUS, Philadelphia, Pennsylvania; Attorneys for Interstate General Media Holdings.

Collins J. Seitz, Jr., Esq. , Garrett B. Moritz, Esq. , Anthony A. Rickey, Esq. , SEITZ ROSS ARONSTAM & MORITZ, LLP, Wilmington, Delaware; Richard A. Sprague, Esq. , Joseph R. Podraza, Jr., Esq. , Alan Starker, Esq. , Neil R. Troum, Esq. , Brooke Spigler Cohen, Esq. , SPRAGUE & SPRAGUE, Philadelphia, Pennsylvania, Attorneys for Intertrust GCN, LP, Intertrust GCN GP, LLC and H.F. Lenfest.

Sean Michael Brennecke, Esq. , Klehr Harrison Harvey Branzburg LLP, Wilmington, Delaware; Lisa A. Lori, Esq. , Klehr Harrison Harvey Branzburg LLP, Philadelphia, Pennsylvania; Attorneys for Intervenor The Newspaper Guild of Greater Philadelphia, Local 38010, AFL-CIO, CL.

MEMORANDUM OPINION

PARSONS, Vice Chancellor.

This petition for judicial dissolution of a Delaware limited liability company ("LLC") arises not from a dispute as to whether judicial dissolution is necessary or appropriate, but rather, how the dissolution should be effectuated. The petitioner seeks an order from this Court requiring that the LLC be sold in an auction in which only the LLC's members and a specific labor union are eligible to participate. Furthermore...

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