The Great Newspaper Meltdown shows no sign of slowing down.
Chicago's Sun-Times Media Group has filed for Chapter 11 bankruptcy, a probable prelude to a liquidation when credit market conditions improve.
Meanwhile, Belo continues to ride the roller coaster straight down towards bankruptcy with $10 million in salary reductions. Hey, it makes more sense than paying people to stop writing.
Thursday, April 2, 2009
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