Another One Bites the Dust… Newspapers File for Bankruptcy
The Sun-Times Media Group, owner of the Chicago Sun-Times and numerous suburban newspapers, filed for Chapter 11 bankruptcy Friday morning, just a few months after rival newspaper titan Tribune Company did the same thing.
As CBS 2′s Joanie Lum reports, the filing didn’t come as a surprise for many employees at the paper. The only surprise was that the Sun-Times filed for bankruptcy after the Tribune.
On Tuesday morning, the staff of the Sun-Times was in a meeting with the bosses in the Holiday Inn located above their headquarters at 354 N. Orleans St., to learn how bankruptcy protection will affect the newspaper and its readers.
The Chicago Sun-Times returned to it’s liberal-leaning stance a couple years back (in 2007) and the readership has taken a nose-dive. That, plus the fact that almost everything in internet based these days and the current recession, does not help the outdated newsprint as a valid form of media.
Good riddance… learn to start reporting the facts objectively and maybe people will read your paper!
