20-Newspaper Chain Files for Bankruptcy

By Neal Colgrass,  Newser Staff
Posted Feb 21, 2009 7:28 PM CST
The Tribune Co., publisher of the Chicago Tribune and Los Angeles Times, sought bankruptcy court protection from creditors December 8, 2008 in Chicago, Ill.   (Getty Images)
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(Newser) – The owner of the New Haven Register and a cluster of other newspapers filed for bankruptcy protection today, the third publisher to recently go under, the Wall Street Journal reports. Known for its tight-fisted spending, Journal Register took on debt by boldly paying $400 million for a Michigan newspaper chain 5 years ago. Unable to make interest payments, the company sought a buyer for months without success.