In media news, the parent company of the Chicago Sun-Times and fifty-eight other newspapers has filed for bankruptcy protection. The Sun-Times Media Group cited the current economic downturn and hundreds of millions in back taxes stemming from when it was controlled by the jailed media tycoon Conrad Black. The move makes Chicago the first US city to have both major newspapers file for bankruptcy.
Sun-Times Media Group Files for Bankruptcy
HeadlineApr 01, 2009