20-Newspaper Chain Files for Bankruptcy

By Neal Colgrass,  Newser Staff
Posted Feb 21, 2009 7:28 PM CST
20-Newspaper Chain Files for Bankruptcy
The Tribune Co., publisher of the Chicago Tribune and Los Angeles Times, sought bankruptcy court protection from creditors December 8, 2008 in Chicago, Ill.   (Getty Images)

The owner of the New Haven Register and a cluster of other newspapers filed for bankruptcy protection today, the third publisher to recently go under, the Wall Street Journal reports. Known for its tight-fisted spending, Journal Register took on debt by boldly paying $400 million for a Michigan newspaper chain 5 years ago. Unable to make interest payments, the company sought a buyer for months without success.
(More newspaper industry stories.)

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