Chicago Sun Times latest to file for bankruptcy

It’s now the fifth major US newspaper group to file for bankruptcy, or more accurately creditor protection. This allows the Sun Times to hold off creditors while they try to sell off assets or obtain outside funding. Either way, it’s going to mean more cutbacks and layoffs. This is what Can West Global has been trying so hard to avoid (its creditors have given it another month to come up with a plan; stay tuned.)

Associated Press/Canoe News, March 31 2009


Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: