The Sun-Times Media Group, owner of the Chicago Sun-Times and dozens of suburban newspapers, filed for bankruptcy reorganization Tuesday, making it the fifth U.S. newspaper publisher to seek protection from creditors in recent months.
The step, brought on by a precipitous decline in advertising revenue, means both of Chicago's major daily newspapers are operating under bankruptcy protection. Tribune Co., the parent company of the Chicago Tribune, the Los Angeles Times and other newspapers, filed for bankruptcty in December.
Chicago Sun-Times owner files for bankruptcy
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