Thursday, January 15, 2009

Star Tribune files for Chapter 11 bankruptcy

Facing sharp revenue declines, Minnesota's largest newspaper seeks to cut labor costs and restructure its debt.

By DAVID PHELPS, Star Tribune
January 15, 2009 - 10:02 PM

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.

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