Newspaper bankruptcy watch: Chicago Sun-Times

What's wrong with Chicago?

Sun-Times Media Group, owner of the Chicago Sun-Times, filed for bankruptcy protection today, the New York Times reports:

The company said it would continue to operate its newspapers and online sites while it focuses on further improving its cost structure and stabilizing operations...

The company operates 59 newspapers and their corresponding online sites, including several papers in the suburban Chicago area.

Tribune Co., owner of the Chicago Tribune, which is the Sun-Times main source of competition, filed for bankruptcy last December.