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Newspapers going broke, more Bailouts?

hypocritexposer

Well-known member
MINNEAPOLIS - The Star Tribune says it has filed for Chapter 11 bankruptcy.

The Minneapolis newspaper posted the announcement on its Web site Thursday.

The filing comes less than two years after a private equity group, Avista Capital Partners, bought the paper for $530 million.
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In its filing, the Star Tribune says it listed assets of $493.2 million and liabilities of $661.1 million. The company says it hopes to use bankruptcy to restructure its debt and lower its labor costs.

The Star Tribune has seen a sharp drop in print advertising, like many newspapers.

In a statement, publisher Chris Harte says, "We intend to use the Chapter 11 process to make this great Twin Cities institution stronger, leaner and more efficient so that it is better positioned for the future."
Copyright 2009 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
 

Soapweed

Well-known member
Cal said:
All these newspapers going broke....it may be tough getting a wood stove going without them.

And if you had a parakeet, you wouldn't be able to line the bottom of the cage. :roll: :wink: :)
 

RobertMac

Well-known member
When newspapers show an open bias for politicians that want to tax businesses, why would those businesses buy ads to support those newspapers?????
 
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