Sun-Times Media Group Goes Bankrupt
The Sun-Times Media Group, the parent company of the Chicago Sun-Times and lots of smaller suburban newspapers, filed for bankruptcy yesterday. Ironically, their problems don't stem from being a print newspaper company. Their crooked former captain Conrad Black siphoned millions from the company coffers. But being a newspaper company didn't help their situation.They're hoping to restructure and bounce back: current Chief Executive Jeremy Halbreich stressed that the papers aren't going out of business. But that certainly doesn't seem to be the prevailing trend. Lets just hope the news survives.