WSJcomBankruptcyBeat

The court-appointed receiver now in charge

Sam Houston State University officials are protesting to a bankruptcy judge that the $1 million donation belonging to its library in Hunstville, Texas, is long overdue.

For months, college officials have pointed to the will of former biology professor James D. Long, who left that donation for neighboring Lon Morris College—his alma matter—when he died in March 2009.

Spanish media company Promotora de Informaciones SA , also known as Prisa, is thinking about filing for Chapter 11 in the U.S., The Wall Street Journal reports.

Reader’s Digest Association Inc. unveiled a restructuring plan to focus on its North American print and digital business Wednesday, as it prepares to emerge from bankruptcy protection. Read the Daily Bankruptcy Review article here.

Tribune Co. plans to split its publishing business and its broadcast arm, following in the footsteps of companies like News Corp ., The Wall Street Journal reports.