12 of 15
BACKNEXT
Recession hits newspapers
Recession hits newspapers
The recession has cut into advertiser budgets, pulling vital dollars from an industry already being squeezed. The owner of the LA Times and the Chicago Tribune -- the Tribune Co. -- filed for Chapter 11 bankruptcy protection at the end of 2008.

The bankruptcy filling was intended to lighten the company's debt load, which Tribune said it has been carrying since it went private at the end of 2007. Tribune has offered no timeline for its exit from bankruptcy, but it is operating normally during the process.

Among scores of other struggling media companies, the Sun-Times Media Group, which operates 59 newspapers throughout the country, filed for Chapter 11 protection at the end of March. The media group cites a drastic fall off in print revenue sales, a weak economy, and a tax burden wracked up by previous management as factors in the downfall.

The Sun-Times Media Group has been slashing costs, but operations continue as the company looks for a buyer.

NEXT: Vallejo, Calif.: Like state, like city

Last updated September 25 2009: 2:55 PM ET
Email | Print | Share  |  RSS
 
google my aol my msn my yahoo! netvibes
Paste this link into your favorite RSS desktop reader
See all CNNMoney.com RSS FEEDS (close)
More Galleries
Want to buy -- and live in -- a piece of history? It's not that far out of reach. These historic homes are not only for sale, they are incredible bargains. More
5 ways retailers are tracking you If you think pesky salespeople are invading your personal space, check out these 5 technologies that are tracking your movements throughout a store. More
Moto X vs. Droid Turbo: Which Droid should you buy? Motorola has made the two best Android smartphones this year. Here's how they stack up. More

Special Offer

Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer.

Morningstar: © 2014 Morningstar, Inc. All Rights Reserved.

Factset: FactSet Research Systems Inc. 2014. All rights reserved.

Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved.

Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor’s Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2014 and/or its affiliates.