Media: Sun-Times files for bankruptcy
From Crain’s Chicago Business:
The Sun-Times Media Group, owner of the Chicago Sun-Times and dozens of suburban newspapers, says it has filed for bankruptcy, making it the fifth newspaper publisher in recent months to seek protection from creditors.
The company said it filed for Chapter 11 protection in a Delaware court Tuesday. It will continue to operate its newspapers and online properties.
Feh. I used to like the paper. But I couldn’t stomach reading the thing after Conrad Black infected it with his grimy touch. I hope Lord Black is enjoying life in prison.
March 31st, 2009 at 8:53 am
It’s my understanding that the S-T isn’t in debt from buying too many newspapers (like Gatehouse) but to the IRS, largely due to Black’s fraudulent manipulations. I seem to recall that Black also recently wrote some strange opinion column claiming that he and Blago (who’s probably less than 48 hours away from being formally indicted, by the way) were being persecuted by the government. Yep, hope he’s enjoying his digs.
March 31st, 2009 at 9:31 am
What a mess…………..
March 31st, 2009 at 12:31 pm
Murdoch ruined the Sun-Times before Black got there. At least Rupert didn’t use the paper as his personal piggy bank. “Summer drinks,” anyone?
I read a story somewhere a month or two ago in which Black said prison life wasn’t so bad. That’s distressing. What a scumbag that guy is.