Tuesday, March 31, 2009
Another Chicago Newspaper Files for Bankruptcy
Sun-Times Media Group , the parent of the Chicago Sun-Times and 59 other Chicago-area newspapers, after burning through cash at more than $5 million a month--filed for Chapter 11 bankruptcy protection. Recall, in December, we reported on Chicago Tribune parent Tribune Co. straining under nearly $13 billion in debt--filed for protection while it restructures.
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