Another Newspaper Bankruptcy
Posted on January 15, 2009
Filed Under Uncategorized |
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.
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