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UPDATED: The End of Newspapers

Posted on 31 March 2009

A special note from the Editor of  Personally, when people ask — “are you recycling your newspapers?” and since I don’t even get a newspaper and haven’t for over 15 years, I’m doing my recycling part by not even subscribing.  Amen.

Sun-Times Files for Bankruptcy

Sun-Times Media, the parent company of The Chicago Sun-Times newspaper, said Tuesday that it had filed for Chapter 11 bankruptcy protection and hired an investment bank to explore possible asset sales.

The company said it would continue to operate its 59 newspapers and various Web sites as it goes through the bankruptcy process. The company has retained Rothschild, an investment bank, to commence a process for the sale of assets, the company said. The bankruptcy petition was filed in Delaware.

The Sun-Times is the second Chicago publishing company to seek bankruptcy protection. The newspaper’s crosstown rival, the Chicago Tribune Company, which publishes The Chicago Tribune and The Los Angeles Times, filed for court protection in December to reduce its crushing debt load.

The Sun-Times has a weekday circulation of 313,000 and a Sunday circulation of 256,000. The Tribune’s circulation was 516,000 daily and 865,000 for Sunday.

The Sun-Times listed assets of $479 million and debts of $801 million.

Chicago is one of a dwindling number of large United States cities to have two major newspapers. Last month, one of Denver’s two newspapers, The Rocky Mountain News, shut down, while one of Seattle’s two newspapers, The Seattle Post-Intelligencer, recently became an online-only publication.

UPDATE:  Kansas City Star will combine, reduce number of selections

The Kansas City Star plans to combine its main news and local sections — along with its business section four days a week — into a single section, starting in the next week to 10 days, according to a Star advertising department client e-mail.

The Star will combine its business section on Wednesday, Thursday, Friday and Saturday into the new single section, according to the e-mail. The paper’s Tuesday business tabloid section will continue as a stand-alone section.

The Star will combine its sports and classified sections every day except Sunday.