Philadelphia Newspapers L.L.C., which owns the Philadelphia Inquirer, Philadelphia Daily News and Philly.com has filed for bankruptcy protection yesterday to restructure its $390 million debt.
The company says the Chapter 11 bankruptcy will not interrupt its daily operations.
The Philadelphia Inquirer was once owned by Knight Ridder before the company went defunct.
I, for one, hope that Philadelphia Newspapers L.L.C. gets through bankruptcy because the city deserves a newspaper. At least keep the award-winning Philadelphia Inquirer.
If newspapers, and in this case even internet, are doing this bad, just think about local television news. TV is not all roses.
IN THE NEWS:
Philly.com: Philadelphia newspapers' owner files for bankruptcy
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