Jan 15, 2009

Star-Tribune files for bankruptcy

The Minneapolis Star-Tribune filed for bankruptcy today. From the Wall Street Journal:
The filing came less than two years after Avista Capital Partners, a private equity group, purchased the newspaper for $530 million.

The move was widely expected after the paper missed multiple payments to its lenders. Management of the paper said recently that it would resort to such action if it didn't win a series of labor concessions.

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