Liz Swain 4:24 p.m., May 24
Parent of Chicago Sun-Times Files for Bankruptcy
Sun-Times Media Group today (March 31) filed for Chapter 11 bankruptcy, and intends to continue operating. The paper has a weekday circulation of 300,000 and Sunday of 250,000. The company operates 59 papers. In December, Chicago's Tribune Co., which includes the Los Angeles Times, filed for bankruptcy. The Minneapolis Star Tribune went into bankruptcy the next month, followed by the Philadelphia company that operates the Inquirer and Daily News. The Journal Register Co., which publishes the New Haven Register and many other papers, has also filed for bankruptcy. The Rocky Mountain News and Seattle Post-Intelligencer have shut down operations, and Hearst Corp. is threatening to shutter the San Francisco Chronicle. Detroit's two newspaper have cut back home delivery to three days a week. San Diego's Copley Press, which intends to sell itself to a private equity group in the second quarter, sold a group of Chicago suburban and exurban papers to the Sun-Times parent (then named Hollister) in 2000.