Going For Broke: Big Newspapers Enter 2010 In Bankruptcy

From MediaDailyNews:

2009 took a toll among traditional media companies, with a record number of bankruptcies among newspaper publishers. Some are set to continue into 2010, despite assurances from top executives that they would be resolved before year's end.

The biggest ongoing newspaper bankruptcy is Tribune Co.'s Chapter 11 bankruptcy protection, which celebrated its first anniversary on Dec. 8, two years after the ill-fated deal engineered by Sam Zell to take the company private as an employee-owned business at a cost of $8.8 billion.

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