Tuesday, January 19, 2010

Newspaper publisher Morris seeks Ch. 11 protection

Newspaper owner Morris Publishing Group filed for bankruptcy protection Tuesday as part of a plan worked out with creditors to cut its debt by about $288.5 million.

The privately held owner of 13 daily newspapers including The Augusta Chronicle and Savannah Morning News announced last week that it would file a "prepackaged" plan, approved by a majority of its creditors, in federal bankruptcy court.

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