Star Tribune files for Chapter 11 bankruptcy

[struggle4progress]

Facing sharp revenue declines, the newspaper seeks bankruptcy protection, hoping to cut costs and restructure debt.
By DAVID PHELPS, Star Tribune
Last update: January 16, 2009 - 6:31 AM

The Star Tribune, saddled with high debt and a sharp decline in print advertising, filed a Chapter 11 bankruptcy petition Thursday night ...

http://www.startribune.com/business/37685134.html

[Muttocracy]

1. Wow. Who owns the STrib? How is the Pioneer Press doing? nt

[Muttocracy]

2. article says it's in the top 10 of Sunday papers and online papers - not enough... nt

[Warpy]

3. The reason's name is Sam Zell

billionaire asshole who also bought out the LA Times and forced an editorial turn to the hard right. He's been buying up papers and using them to push extremist propaganda while using them as cash cows, selling off their assets and looking surprised when the advertising revenue doesn't increase.

Sam Zell: newspaper killer. This isn't the only one of his papers that is going to go belly up.

Most local papers will probably curtail publishing to one to three times a week and survive. Nothing Zell bought up will likely survive his heavy handed editorial policy and his hamfisted management.

[ProgressiveProfessor]

4. Even non Sam Zell papers are dying

There is more to it than just one neocon owner

[Warpy]

5. We're not talking about minor papers in small markets

These are major papers in major metropolitan centers he's destroying, big difference.

[ProgressiveProfessor]

6. The NYT is having its probelms too as are others.

Zell is certainly not helping things but all papers, small and large are struggling. Good article about it in the LAT on Wed.