Minneapolis Star Tribune files Chapter 11 bankruptcy

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

• Minnesota's largest newspaper will try to use bankruptcy to restructure its debt and lower its labor costs.

• Chris Harte, the paper's publisher, said the filing would have no impact on home delivery, advertising, newsgathering or any other aspects of the paper's operations....

In its filing, the newspaper listed assets of $493.2 million and liabilities of $661.1 million."...via Lucianne.com

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