Yet Another Newspaper Chain To Go Bankrupt
The rest of the economy might be slowly recovering from the great global economic cataclysm, but the death march of daily print journalism continues. Yesterday, theWall Street Journal
---one of the few daily papers that successfully managed the rise of the Internet--reported that Dean Singleton, once a brash corporate raider who gobbled up theLA Daily News
,Long Beach Press-Telegram
and others, is downsizing his ambitions just a tad. Affiliated Media, Inc, the parent company that owns Singleton's MediaNews Group, Inc., plans to file for bankruptcy protection, citing insurmountable debt.
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