Another Newspaper Bankruptcy

The Strib has long been financially troubled. Also, like their neighbors to the south, Sam Zell’s Tribune Co., the Strib was taken over by a private equity group a few years ago and suffered under the weight of significant debt maintenance obligations.

The Star Tribune, saddled with high debt and a sharp decline in print advertising, filed a Chapter 11 bankruptcy petition Thursday night.

[From Star Tribune files for Chapter 11 bankruptcy]